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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 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.
| IPO Date | Mar 21, 2018 to Mar 23, 2018 |
| Listing Date | Wednesday, April 4, 2018 |
| Face Value | ₹10 per share |
| Price | ₹87 to ₹90 per share |
| Lot Size | 150 Shares |
| Issue Size | 48,708,400 shares of ₹10 (aggregating up to ₹438.38 Cr) |
| Offer for Sale | 48,708,400 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Retail Discount | Rs 3 per share |
| Employee Discount | Rs 3 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Company Promoters | The promoter of the company is the President of India acting through the Ministry of Defence, Government of India. |
Mishra Dhatu Nigam IPO opens on Mar 21, 2018, and closes on Mar 23, 2018. The Mishra Dhatu Nigam IPO bid date is from Mar 21, 2018 10.00 A.M. to Mar 23, 2018 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Mar 21, 2018 |
| Closing Date | Mar 23, 2018 |
| Basis of Allotment | Mar 28, 2018 |
| Initiation of Refunds | Apr 2, 2018 |
| Credit of Shares to Demat | Apr 3, 2018 |
| Listing Date | Apr 4, 2018 |
The Mishra Dhatu Nigam IPO lot size is 150 shares. A retail-individual investor can apply for up to 14 lots (2100 shares or ₹189,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹13,500 |
| Retail (Max) | 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.
First half results are affected with unwarranted situation like maintenance of plant under taken after three plus decades. Management is confident of achieving improved performance once they are back to normalcy after restart of the plant. Based on normal working, issue is priced reasonably. Investors may consider investment for long term. Read detail review...
The Mishra Dhatu Nigam IPO is subscribed 1.21 times on Mar 23, 2018 7:30:00 PM. The public issue subscribed 0.72 times in the retail category, 1.96 times in the QIB category, and 0.13 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.96 |
| NII | 0.13 |
| Retail | 0.72 |
| Employee | 0.26 |
| Total | 1.21 |
| Listing Date | Wednesday, April 4, 2018 |
| BSE Script Code | 541195 |
| NSE Symbol | MIDHANI |
| Listing In | B Group of Securities |
| ISIN | INE099Z01011 |
| IPO Price | ₹90 per share |
| Face Value | ₹10 per 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
Phone: (011) 4254 1234
Email: midhani_ipo@alankit.com
Website: https://www.alankit.com/
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 5 | 0 | 2 |
| Members | 0 | 0 | 0 |
IPO Broker Recommendations
Mishra Dhatu Nigam IPO is a main-board IPO of 48,708,400 equity shares of the face value of ₹10 aggregating up to ₹438.38 Crores. The issue is priced at ₹87 to ₹90 per share. The minimum order quantity is 150 Shares.
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 lot size is 150 Shares and the minimum order quantity is .
You can apply in Mishra Dhatu Nigam 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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
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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