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McNally Bharat to raise Rs 175 crore through fresh equity issue: Report

13 Oct 2014 Evaluate

McNally Bharat Engineering Company (MBECL) is reportedly planning to raise around Rs 175 crore through fresh equity issue by the end of this financial year. The company is seeking equity fund to lower its current finance cost.

In 2013-14, more than 50 per cent rise in finance cost had forced the company to report loss. Despite good order book position, slow or delayed payments prompted the company to depend more on borrowing to meet larger working capital requirement.  

The promoters BM Khaitan group currently holds upwards of 32 per cent stake in the company. One of the promoter entities, Kilburn Engineering, in September obtained release of pledge over its 2.73 per cent stake in the company. However, IL&FS Financial Services still holds pledge over 14.77 per cent promoters’ stake or voting rights in McNally Bharat.

McNally Bharat Engineering Company is one of the leading engineering companies. It provides turnkey solutions in areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply etc.

Mcnally Bharat Engg Share Price

3.24 0.00 (0.00%)
20-Feb-2025 16:59 View Price Chart
Peers
Company Name CMP
Larsen & Toubro 4057.95
Rail Vikas Nigam 298.00
NCC 160.80
KEC International 560.00
Kalpataru Projects 1243.50
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