Bookbuilding IPO | ₹435 Cr | Listed at BSE, NSE | Wed, Mar 21, 2018 - Fri, Mar 23, 2018
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 per share. The lot size for an application is 150. The minimum amount of investment required by an retail is ₹13,500 (150 shares) (based on upper price). 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 Open
Wed, Mar 21, 2018
IPO Close
Fri, Mar 23, 2018
Issue Price
₹90 per share
Market Cap (Pre-IPO)
₹1,686.06 Cr
| IPO Date | 21 to 23 Mar, 2018 |
| Listed on | Wed, Apr 4, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹87 to ₹90 |
| Issue Price | ₹90 per share |
| Lot Size | 150 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 3.00 per share |
| Employee Discount | ₹3.00 |
| Total Issue Size | 4,87,08,400 shares (agg. up to ₹435 Cr) |
| Offer for Sale | 4,87,08,400 shares of ₹10 (agg. up to ₹435 Cr) |
| Share Holding Pre Issue | 18,73,40,000 shares |
| Share Holding Post Issue | 18,73,40,000 shares |
| BSE Script Code / NSE Symbol | 541195 / MIDHANI |
| ISIN | INE099Z01011 |
Mishra Dhatu Nigam IPO comprises a total issue size of 4,87,08,400 shares. The net offer to the public is 4,68,35,000 shares, after excluding 18,73,400 shares under a preferential allotment. Of the Net offer 2,34,17,500 (50.00%) are allocated to QIB, 70,25,250 (15.00%) allocated to NII 1,63,92,250 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 2,34,17,500 | 50.00% | 48.08% | NA |
| NII (HNI) Shares Offered | 70,25,250 | 15.00% | 14.42% | NA |
| Retail Shares Offered | 1,63,92,250 | 35.00% | 33.65% | 1,09,281 |
| Preferential Reservations | ||||
| Employee Shares Offered | 18,73,400 | 3.85% | NA | |
| Total Shares Offered | 4,87,08,400 | 100.00% | 100.00% | |
Investors can bid for a minimum of 150 shares and in multiples thereof.
| 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 |
| 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 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Mishra Dhatu Nigam IPO is subscribed 1.21 times on March 23, 2018 7:30:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.96 | 2,34,17,500 | |
| NII | 0.13 | 70,25,250 | |
| Retail | 0.72 | 1,63,92,250 | |
| Employee | 0.26 | 18,73,400 | |
| Total | 1.21 | 4,87,08,400 |
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.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLMs (including underwriting commission, processing fees for SCSBs, printing and stationery expenses) | 7.93 |
| 2 | Brokerage, selling commission and processing/ uploading charges for Members of the Syndicate, SCSBs, Registered Brokers, RTAs and CDPs | 0.76 |
| 3 | Fees payable to Registrar to the Offer | |
| 4 | Advertising and marketing expenses | 11.86 |
| 5 | Listing fees | 0.06 |
| 6 | SEBI, BSE and NSE processing fees | 1.33 |
| 7 | Fees payable to Legal Counsel | 0.60 |
| 8 | Miscellaneous (including Depository charges, fees to Auditors etc.) | 0.03 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹90.00 | ₹90.00 |
| Open | ₹87.00 | ₹87.00 |
| Low | ₹86.35 | ₹86.05 |
| High | ₹90.90 | ₹91.00 |
| Last Trade | ₹90.00 | ₹90.05 |
Lead Manager Reports
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 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 150.
The IPO opens on Wed, Mar 21, 2018, and closes on Fri, Mar 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 Wed, Mar 21, 2018 and closes on Fri, Mar 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 Tue, Apr 3, 2018. Check the Mishra Dhatu Nigam IPO allotment status.
The Mishra Dhatu Nigam IPO listing date is on Wed, Apr 4, 2018.
