MUMBAI: The initial public offering of Markolines Traffic Controls, a highway operation and maintenance servicing provider will open for subscription on September 15. The offer comprises 51.28 lakh equity shares sold at Rs. 78 per share. The company is planning to raise about Rs. 40 crores which will be used for working capital requirements, according to the prospectus. Gretex Corporate Services is the lead manager to the issue.
Markoline Traffic Controls limited commenced its business operations in 2002, initially started with road marking, and later in 2009 envisaged and ventured the business opportunity of operation and maintenance of highway projects.
The company’s principal business operations are broadly divided into two categories: highway operations, which include Toll operations, Route Patrolling and Incident management, and highway maintenance, including services like Routine Maintenance, Preventive Maintenance, and Major Maintenance & Repairs (MMR). The company also offers Specialized Maintenance Services, which are Eco friendly and enhance the life and quality of the road.
