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Mishra Dhatu Nigam IPO is a book build issue of ₹435.02 crores. The issue is entirely an offer for sale of 4.87 crore shares of ₹435.02 crore.
Mishra Dhatu Nigam IPO bidding started from Mar 21, 2018 and ended on Mar 23, 2018. The allotment for Mishra Dhatu Nigam IPO was finalized on Mar 28, 2018. The shares got listed on BSE, NSE on Apr 4, 2018.
Mishra Dhatu Nigam IPO price band is set at ₹90.00 per share . The lot size for an application is 150. The minimum amount of investment required by an retail is ₹13,050 (150 shares). The lot size investment for sNII is 15 lots (2,250 shares), amounting to ₹2,02,500, and for bNII, it is 75 lots (11,250 shares), amounting to ₹10,12,500.
The issue includes a reservation of up to 18,73,400 shares for employees offered at a discount of ₹3.00 to the issue price.
IDBI Capital Markets Services Ltd. is the book running lead manager and Alankit Assignments Ltd. is the registrar of the issue.
Refer to Mishra Dhatu Nigam IPO RHP for detailed Information.
| IPO Date | March 21, 2018 to March 23, 2018 |
| Listing Date | April 4, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹87 to ₹90 per share |
| Issue Price Final | ₹90 per share |
| Lot Size | 150 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 4,87,08,400 shares (aggregating up to ₹435.02 Cr) |
| Retail Discount | Rs 3.00 per share |
| Employee Discount | ₹3.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 18,73,40,000 shares |
| Share Holding Post Issue | 18,73,40,000 shares |
Mishra Dhatu Nigam IPO offers total 4,87,08,400 shares. Out of which 2,34,17,500 (48.08%) allocated to QIB, 70,25,250 (14.42%) allocated to NII, 1,63,92,250 (33.65%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,34,17,500 (48.08%) | NA |
| NII (HNI) Shares Offered | 70,25,250 (14.42%) | NA |
| Retail Shares Offered | 1,63,92,250 (33.65%) | 1,09,281 |
| Employee Shares Offered | 18,73,400 (3.85%) | NA |
| Total Shares Offered | 4,87,08,400 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Mishra Dhatu Nigam IPO opens on March 21, 2018, and closes on March 23, 2018.
| IPO Open Date | Wed, Mar 21, 2018 |
| IPO Close Date | Fri, Mar 23, 2018 |
| Tentative Allotment | Wed, Mar 28, 2018 |
| Initiation of Refunds | Mon, Apr 2, 2018 |
| Credit of Shares to Demat | Tue, Apr 3, 2018 |
| Tentative Listing Date | Wed, Apr 4, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Mar 23, 2018 |
Investors can bid for a minimum of 150 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹13,500 |
| Retail (Max) | 14 | 2,100 | ₹1,89,000 |
| S-HNI (Min) | 15 | 2,250 | ₹2,02,500 |
| S-HNI (Max) | 74 | 11,100 | ₹9,99,000 |
| B-HNI (Min) | 75 | 11,250 | ₹10,12,500 |
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
[Dilip Davda] 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...
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.
| Listing Date | April 4, 2018 |
| BSE Script Code | 541195 |
| NSE Symbol | MIDHANI |
| ISIN | INE099Z01011 |
| Final Issue Price | ₹90 per share |
| BSE Listing Group | B |
Mishra Dhatu Nigam Ltd.
P.O. Kanchanbagh,
Hyderabad - 500 058
Hyderabad, Telangana
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: http://ipo.alankit.com/
Mishra Dhatu Nigam IPO is a main-board IPO of 4,87,08,400 equity shares of the face value of ₹10 aggregating up to ₹435.02 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 150.
The IPO opens on March 21, 2018, and closes on March 23, 2018.
Alankit Assignments Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Mishra Dhatu Nigam IPO using UPI as a payment gateway. Zerodha customers can apply in Mishra Dhatu Nigam IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mishra Dhatu Nigam IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mishra Dhatu Nigam IPO opens on March 21, 2018 and closes on March 23, 2018.
Mishra Dhatu Nigam IPO lot size is 150, and the minimum amount required for application is ₹13,500.
You can apply in Mishra Dhatu Nigam 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 Mishra Dhatu Nigam IPO will be done on Wednesday, March 28, 2018, and the allotted shares will be credited to your demat account by Tuesday, April 3, 2018. Check the Mishra Dhatu Nigam IPO allotment status.
The Mishra Dhatu Nigam IPO listing date is on Wednesday, April 4, 2018.
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