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.
Competitive Strengths
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 ₹10 (aggregating up to ₹438.38 Cr) |
| Offer for Sale | 48,708,400 Eq Shares of ₹10 (aggregating up to ₹[.] Cr) |
| Face Value | ₹10 Per Equity Share |
| Issue Price | ₹87 - ₹90 Per Equity Share |
| Retail Discount | ₹3 per share |
| Employee Discount | ₹3 per 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 |
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 150 | ₹13,500 |
| Maximum | 14 | 2100 | ₹189,000 |
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.
No. of Times Issue Subscribed (BSE + NSE) | |||||
|---|---|---|---|---|---|
As on Date & Time | QIB | NII | RII | Employee | Total |
Shares Offered | 23,417,500 | 7,025,250 | 16,392,250 | 1,873,400 | 48,708,400 |
Mar 23, 2018 19:30 | 1.96x | 0.13x | 0.72x | 0.26x | 1.21x |
| Listing Date | Wednesday, April 4, 2018 |
| BSE Script Code | 541195 |
| NSE Symbol | MIDHANI |
| Listing In | B |
| ISIN | INE099Z01011 |
| Issue Price | ₹90 Per Equity Share |
| Face Value | ₹10 Per Equity Share |
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Mishra Dhatu Nigam Limited
P.O. Kanchanbagh,
Hyderabad - 500 058
Phone: +91-040-24340853
Email: secretary@midhani.com
Website: http://www.midhani.com/
Alankit Assignments Ltd
Alankit House 2E/21,
Jhandewalan Extension,
New Delhi - 110055
Phone: (011) 4254 1234
Email: midhani_ipo@alankit.com
Website: https://www.alankit.com/
Mishra Dhatu Nigam IPO is an main-board initial public offering of 48,708,400 equity shares of the face value of ₹10 aggregating up to ₹438.38 Crores.
The issue price of the IPO is ₹87 - ₹90 Per Equity Share. The minimum order quantity is 150 Shares per application and the offer type is Book Built Issue.
The IPO opens on Mar 21, 2018 and closes on Mar 23, 2018.
Alankit Assignments Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Mishra Dhatu Nigam IPO opens on Mar 21, 2018 and closes on Mar 23, 2018.
Mishra Dhatu Nigam IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.
The finalization of Basis of Allotment for Mishra Dhatu Nigam IPO will be done on Mar 28, 2018, and the allotted shares will be credited to your demat account by Apr 3, 2018. Check the Mishra Dhatu Nigam IPO allotment status.
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