Infra MEP jumps to board to think about fundraising

MEP Infrastructure Developers rose 3.73% to Rs 20.85 after the company said its board would consider a fundraising on April 21, 2022.

The Board of Directors will evaluate proposals for raising funds through the issuance of shares/any other security; equity warrants, including by preferential issue/preferential allotment in the context of a private placement; rights issue or any other method or combination thereof.

MEP Infrastructure Developers is engaged in the construction, operation and maintenance of road infrastructure in India.

MEP Infrastructure Developers recorded a net loss of Rs 12.19 crore in Q3 December 2021 compared to a net profit of Rs 89.34 crore in Q3 December 2020. Net sales decreased by 15.14% to Rs 239.68 crore in Q3 December 2021 compared to Q3 December 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First published: Monday, April 18, 2022. 2:39 PM IST

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