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Incorporated in 1991, Midfield Industries Ltd is a leading manufacturers of steel strapping systems and providers of packaging solutions. Midfield provide packaging consumables like high tensile steel strapping in various dimensions and strengths, Different Seals for different applications, Collated Nails & Corner boards being used for general and the end of line packaging of goods by varied industries. Currently, the company caters to companies across wide spectrum of industries like steel, aluminium, glass, copper, paper, automobile, white goods and refractory etc.
Steel Strappings of Midfield are of two grades, Supreme and Mega Supreme. Supreme Steel Strapping is made of low carbon, low manganese cold rolled steel. Mega Supreme Steel Strapping is made of medium carbon, high-manganese cold rolled steel. Supreme is designed for low duty packaging applications, where as, Mega Supreme is designed for heavy-duty applications.
Company's Promoters are:
1. Mr. M. Madhu Mohan Reddy, 51, years, is a Bachelor of Commerce from Sri Venkateswara University, Tirupati and Master in Business Administration from Andhra University.
2. Mrs. M Supraja, 49 years, is wife of Mr. M Madhu Mohan Reddy.
| Particulars | For the year/period ended (Rs. in Million) | ||||
| 31-Mar-09 | 31-Mar-08 | 31-Mar-07 | 31-Mar-06 | 31-Mar-05 | |
| Total Income | 843.91 | 701.64 | 521.16 | 439.10 | 262.91 |
| Profit After Tax (PAT) | 59.09 | 41.60 | 18.67 | 17.10 | 2.12 |
The objects of the issue are:
1. Expansion of capacities at the existing plants;
2. Setting up new facilities;
3. Augmenting long term working capital requirement of the Company;
4. General Corporate Purposes; and
5. Achieve the benefits of listing on the Stock Exchange.
| IPO Opening Date | Jul 19, 2010 |
| IPO Closing Date | Jul 21, 2010 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹126 to ₹133 per equity share |
| Market Lot | 50 Shares |
| Min Order Quantity | 50 Shares |
| Listing At | BSE |
| Issue Size | 4,500,000 Eq Shares of ₹10 (aggregating up to ₹59.85 Cr) |
The Midfield Industries IPO market lot size is 50 shares. A retail-individual investor can apply for up to 30 lots (1500 shares or ₹199,500).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 50 | ₹6,650 |
| Maximum | 30 | 1500 | ₹199,500 |
Brickwork Ratings (BWR) has assigned an IPO Grade 2 to Midfield Industries Ltd IPO. This means as per Brickwork Ratings company has 'Below Average Fundamentals'. Brickwork Ratings assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the Brickwork IPO Grading Document for Midfield Industries Ltd.
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The Midfield Industries IPO is subscribed 12.92 times on 7/21/2010 5:00:00 PM. The public issue subscribed 13.51 times in the retail category, 1.86 times in the QIB category, and 48.41 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.86 |
| NII | 48.41 |
| Retail | 13.51 |
| Total | 12.92 |
| Listing Date | Wednesday, August 4, 2010 |
| BSE Script Code | 533220 |
| NSE Symbol | |
| Listing In | B Group of Securities |
| ISIN | INE091K01010 |
| IPO Price | ₹133 per equity share |
| Face Value | ₹10 per equity share |
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Midfield Industries Ltd
Plot No. 6, Phase IV Extn,
IDA Jeedimetla,
Hyderabad- 500055, Andhra Pradesh
Phone: +91 40 23098502
Email: ipo@midfieldindustries.com
Website: http://www.midfieldindustries.com
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com
Midfield Industries IPO is a main-board IPO of 4,500,000 equity shares of the face value of ₹10 aggregating up to ₹59.85 Crores. The issue is priced at ₹126 to ₹133 per equity share. The minimum order quantity is 50 Shares.
The IPO opens on Jul 19, 2010, and closes on Jul 21, 2010.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE.
The Midfield Industries IPO opens on Jul 19, 2010 and closes on Jul 21, 2010.
Midfield Industries IPO lot size is 50 Shares and the minimum order quantity is 50 Shares.
You can apply in Midfield Industries IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Midfield Industries IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Midfield Industries IPO allotment status.
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