MBL Infrastructures seeks Rs 3 billion mezzanine funding

MBL Infrastructures Limited is currently in talks to raise up to Rs 3 billion in mezzanine funding to infuse additional equity into some of its newly acquired projects to attain financial closure. The company has already received a term sheet from Piramal Fund Management Private Limited. MBL is executing three projects on a build-operate-transfer (BOT) basis through SPVs. The company also recently won three projects under the hybrid annuity model from NHAI.