Incorporated in 1973, Mishra Dhatu Nigam Ltd is Hyderabad based PSU engaged in the business of manufacturering of special steels, superalloys and titanium alloys in India. These high value products cater to niche sectors including defense, space and power. Company is Mini Ratna, Category-I company since 2009.
Mishra Dhatu Nigam manufactures:
1. Special steels like martensitic steel, ultra high strength steel, austenitic steel and precipitation hardening steel.
2. Three varieties of Superalloys - nickel base, iron base and cobalt base.
3. Titanium alloys.
Mishra Dhatu Nigam has a manufacturing facility in Hyderabad. Compant is in the process of setting up two new manufacturing facilities in Rohtak and Nellore. Company has an in-house research and development team comprising of 14 officers. Company has 836 employees.
1. Only facility in India to carry out vacuum based melting and refining
2. Capability to manufacture wide range of advanced products
3. Research and development based technology development
The promoter of the company is the President of India acting through the Ministry of Defence, Government of India.
The objects of the Offer are:
1. to carry out the disinvestment of 46,835,000 Equity Shares by the Selling Shareholder
constituting 25% of Company's pre-Offer paid up Equity Share capital; and
2. to achieve the benefits of listing the Equity Shares on the Stock Exchanges.
Company will not receive any proceeds from the Offer and all proceeds shall go to the Selling Shareholder.
|Issue Open||Mar 21, 2018 - Mar 23, 2018|
|Issue Type||Book Built Issue IPO|
|Issue Size||48,708,400 Eq Shares of Rs 10 |
(aggregating up to Rs 438.38 Cr)
|Offer for Sale||48,708,400 Eq Shares of Rs 10 |
(aggregating up to Rs [.] Cr)
|Face Value||Rs 10 Per Equity Share|
|Issue Price||Rs 87 - Rs 90 Per Equity Share|
|Market Lot||150 Shares|
|Min Order Quantity||150 Shares|
|Listing At||BSE, NSE|
|Bid/Offer Opens On||Mar 21, 2018|
|Bid/Offer Closes On||Mar 23, 2018|
|Finalisation of Basis of Allotment||Mar 28, 2018|
|Initiation of Refunds||Apr 2, 2018|
|Credit of Shares to Demat Acct:||Apr 3, 2018|
|IPO Shares Listing Date:||Apr 4, 2018|
Mishra Dhatu Nigam is offering discount of Rs 3 per equity share on issue price to investors in retail and employee category
Based on the EPS for the year ending March 31, 2017, P/E at the floor price is 12.91 times and at the Cap Price is 13.35 times. Since, there are no comparable listed companies in India engaged in the similar business, comparison with industry peers are not available.
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