Construction firm MBL Infrastructures said on Thursday it has received Rs 75 million as anchor investment from Reliance Infrastructure. The firm also received a similar investment from GMO fund.

The company has allocated 50% of the anchor investor portion of its proposed Initial Public Offering (IPO) at the upper band of Rs180.

The price band of the IPO is Rs 165-180, the company said in a statement.

MBL Infrastructures Ltd expects to raise Rs1 billion through an initial public offering (IPO) to finance equipment purchase and shore up working capital.

The issue opens on November 27 and closes on December 1.

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