The Mishra Dhatu Nigam date has been confirmed from March 21, 2018 and ended on March 23, 2018.
Mishra Dhatu Nigam Developers IPO is a fixed price issue of Rs 438.38 crores. The price band is set at ₹87 to ₹90 per share. The minimum lot size for an application is 150 Shares. The minimum amount of investment required by retail investors is ₹13,500.
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Bidding Dates
March 21-23
Price Range
₹87 to ₹90 per share
Face Value
₹10 per share
GMP
₹411.00
Mishra Dhatu Nigam IPO GMP
The Mishra Dhatu Nigam IPO GMP is ₹411.00.
IPO Overview
The Mishra Dhatu Nigam IPO is a book-built offering for Rs 438.38 crores. The offering consists wholly of 4.87 crore shares for sale. The IPO auction for Mishra Dhatu Nigam began on March 21, 2018 and finished on March 23, 2018. On Wednesday, March 28, 2018, the Mishra Dhatu Nigam IPO allotment was completed. On April 4, 2018, the shares were listed on the BSE and NSE. The IPO price range for Mishra Dhatu Nigam is set at 87 to 90 per share. An application requires a minimum lot size of 150 Shares. Retail investors must make a minimum investment of ₹13,500. The offering includes a reservation of up to 1,873,400 shares for employees at a Rs 3 reduction to the issue price.
Competitive Strengths
- Only facility in India to carry out vacuum based melting and refining
- Capability to manufacture wide range of advanced products
- Research and development based technology development
Mishra Dhatu Nigam IPO Details
| IPO Date | March 21, 2018 to March 23, 2018 |
| Listing Date | April 4, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹87 to ₹90 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 48,708,400 shares (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 |
Mishra Dhatu Nigam IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹13,500 |
| Retail (Max) | 14 | 2100 | ₹189,000 |
Mishra Dhatu Nigam IPO Timeline
| IPO Open Date | Wednesday, March 21, 2018 |
| IPO Close Date | Friday, March 23, 2018 |
| Basis of Allotment | Wednesday, March 28, 2018 |
| Initiation of Refunds | Monday, April 2, 2018 |
| Credit of Shares to Demat | Tuesday, April 3, 2018 |
| Listing Date | Wednesday, April 4, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 23, 2018 |
Company Profile
Mishra Dhatu Nigam Ltd, founded in 1973, is a Hyderabad-based PSU that manufactures special steels, superalloys, and titanium alloys in India. These high-value items serve specialty markets such as defence, space, and electricity. Since 2009, the company has been a Mini Ratna, Category-I company.
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.
In Hyderabad, Mishra Dhatu Nigam operates a manufacturing factory. Compant is currently constructing two new manufacturing facilities in Rohtak and Nellore. The company employs 14 officers on its in-house research and development staff. The company employs 836 people.
Registrar Info
| Name | Alankit Assignments Ltd |
| Phone number | (011) 4254 1234 |
| Email ID | midhani_ipo@alankit.com |
| Website | ipo.alankit.com |
Contact Details
| Name | Mishra Dhatu Nigam Limited |
| Phone number | +91-040-24340853 |
| Email ID | secretary@midhani.com |
| Website | midhani.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
