MEP Infra to replace PC Jeweller in BSE IPO index from tmrw

Leading bourse BSE has announced the inclusion of toll management company MEP Infrastructure Developers in the S&P BSE IPO index with effect from tomorrow.
"MEP Infrastructure Developers is a new listing on the BSE with a float market capitalisation greater than Rs 100 crore, which necessitates its inclusion in the index," BSE said in a statement today.
The stock PC Jeweller is excluded on account of completion of two years in the index, as per the index methodology, it added.
Shares of MEP Infrastructure Developers yesterday made a sluggish debut on the bourses and ended the day with a sharp fall of over 7 per cent over the issue price of Rs 63.

The initial public offer (IPO) of MEP Infrastructure Developers was subscribed 1.10 times last month.
The company, along with its subsidiaries, has operated 68 projects with an aggregate of 122 toll plazas and 783 lanes across 12 states.