Bookbuilding IPO | ₹60 Cr | Listed at BSE | Mon, Jul 19, 2010 - Wed, Jul 21, 2010
Midfield Industries IPO is a book build issue of ₹59.85 crores. The issue is entirely a fresh issue of 0.45 crore shares of ₹59.85 crore.
Midfield Industries IPO bidding started from Jul 19, 2010 and ended on Jul 21, 2010. The shares got listed on BSE on Aug 4, 2010.
Midfield Industries IPO price band is set at ₹133 per share. The lot size for an application is 50. The minimum amount of investment required by an retail is ₹6,650 (50 shares) (based on upper price). The lot size investment for sNII is 31 lots (1,550 shares), amounting to ₹2,06,150, and for bNII, it is 151 lots (7,550 shares), amounting to ₹10,04,150.
Atherstone Capital Markets Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Midfield Industries IPO RHP for detailed Information.
IPO Open
Mon, Jul 19, 2010
IPO Close
Wed, Jul 21, 2010
Issue Price
₹133 per share
Market Cap (Pre-IPO)
₹170.52 Cr
| IPO Date | 19 to 21 Jul, 2010 |
| Listed on | Wed, Aug 4, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹126 to ₹133 |
| Issue Price | ₹133 per share |
| Lot Size | 50 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE |
| Total Issue Size | 45,00,001 shares (agg. up to ₹60 Cr) |
| Fresh Issue | 45,00,001 shares (agg. up to ₹60 Cr) |
| Share Holding Pre Issue | 83,21,250 shares |
| Share Holding Post Issue | 1,28,21,250 shares |
| BSE Script Code | 533220 |
| ISIN | INE091K01010 |
Midfield Industries IPO comprises a total issue size of 45,00,000 shares. Out of which, 22,50,000 (50.00%) are allocated to QIB, 6,75,000 (15.00%) allocated to NII 15,75,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 22,50,000 | 50.00% | NA |
| NII (HNI) Shares Offered | 6,75,000 | 15.00% | NA |
| Retail Shares Offered | 15,75,000 | 35.00% | 31,500 |
| Total Shares Offered | 45,00,000 | 100.00% |
Investors can bid for a minimum of 50 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹6,650 |
| Retail (Max) | 30 | 1,500 | ₹1,99,500 |
| S-HNI (Min) | 31 | 1,550 | ₹2,06,150 |
| S-HNI (Max) | 150 | 7,500 | ₹9,97,500 |
| B-HNI (Min) | 151 | 7,550 | ₹10,04,150 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of capacities at the existing plants | 13.15 |
| 2 | Setting up new facilities | 4.17 |
| 3 | Augmenting long term working capital requirement of the Company; | 5.35 |
| 4 | General Corporate Purposes | 5.95 |
| 5 | Setting up new facility for manufacturing High Tensile Steel Strapping and seals at Sharjah | 12.70 |
| 6 | Expansion at existing manufacturing facility at Mumbai, by setting up Angle Board, Collated Nails, Seals and Heat Treatment Plant | 6.27 |
| 7 | Expansion at existing manufacturing facility at Roorkee, by setting up Angle Board and Collated Nails, Seals | 1.59 |
| 8 | Issue Expenses | 5.95 |
| KPI | |
|---|---|
| RoNW | 24.16% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 79.76% | 51.77% |
| Market Cap | ₹170.52 Cr. |
The Midfield Industries IPO is subscribed 12.92 times on July 21, 2010 5:00:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.86 | 22,50,000 | |
| NII | 48.41 | 6,75,000 | |
| Retail | 13.51 | 15,75,000 | |
| Total | 12.92 | 45,00,000 |
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.
Midfield Industries IPO, Midfield Industries Ltd IPO, Midfield Industries Bidding, Midfield Industries IPO Allotment Status, Midfield Industries drhp and Midfield Industries Ltd IPO listing.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Management Fees, Underwriting and Selling Commission | 3.28 |
| 2 | Advertising and marketing expenses | 0.60 |
| 3 | IPO Grading Expenses | 0.04 |
| 4 | Printing and stationery expenses | 1.37 |
| 5 | Others (Registrar fees, Legal fees, Listing fees, Book Building software, Stamp Duty, etc.) | 0.67 |
| Price Details | BSE |
|---|---|
| Final Issue Price | ₹133.00 |
| Open | ₹159.40 |
| Low | ₹150.00 |
| High | ₹174.90 |
| Last Trade | ₹163.05 |
Lead Manager Reports
Midfield Industries IPO is a main-board IPO of 45,00,001 equity shares of the face value of ₹10 aggregating up to ₹60 Crores. The issue is priced at ₹133 per share. The minimum order quantity is 50.
The IPO opens on Mon, Jul 19, 2010, and closes on Wed, Jul 21, 2010.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE.
Zerodha customers can apply online in Midfield Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Midfield Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Midfield Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Midfield Industries IPO opens on Mon, Jul 19, 2010 and closes on Wed, Jul 21, 2010.
Midfield Industries IPO lot size is 50, and the minimum amount required for application is ₹6,650.
You can apply in Midfield Industries IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Midfield Industries IPO listing date is on Wed, Aug 4, 2010.
