Mishra Dhatu Nigam IPO is engaged in the business of manufacturing of special steels, superalloys and titanium alloys in India and is all set to make a debut in the stock market with an issue size of 438.38 Cr.
Mishra Dhatu Nigam IPO – Overview
Tentative Dates
| Opening date | 21 March 2018 |
| closing date | 23 March 2018 |
| Basis of Allotment | 28 March 2018 |
| Initiation of Refunds | 2 April 2018 |
| The credit of Shares to Demat | 3 April 2018 |
| IPO Listing Date | 4 April 2018 |
Company Overview
Mishra Dhatu Nigam Ltd is Hyderabad based PSU engaged in the business of manufacture ring of special steels, superalloys and titanium alloys in India. These high value products cater to niche sectors including defense, space and power. The 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.
Industry Overview
India has been amongst the most robust economies growing at an average of 7.3% annually during 2010-2016. According to the IMF, its economy is deemed stable, and it has the highest growth among G20 economies mainly due to improved monetary and fiscal policies, and lower oil prices. The country has managed to maintain strong macroeconomic fundamentals, moderate inflation levels, and positive fiscal and monetary policies. Buoyed by a positive investment climate, government impetus, and a weak commodity cycle, India became the fastest growing large economy in 2015. According to the World Bank, India grew at 7.6%, overtaking China that grew at 6.7%. India’s growth slowed to an extent in 2016, largely driven by the demonetization drive that withdrew 86% of the cash circulation to be replaced with new currency notes.
Objectives
- 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 - To achieve the benefits of listing Equity Shares on the Stock Exchanges.
Financial Statements
Mishra Dhatu Nigam IPO- Strengths
- Only facility in India to carry out vacuum-based melting and refining.
- Capability to manufacture a wide range of advanced products.
- Research and development-based technology development.
Company Contact Information
Mishra Dhatu Nigam Limited
P.O. Kanchanbagh,
Hyderabad – 500 058
Phone: +91-040-24340853
Email: secretary@midhani.com
Website: http://www.midhani.com/
Mishra Dhatu Nigam IPO Registrar
Alankit Assignments Ltd
Phone: (011) 4254 1234
Email: midhani_ipo@alankit.com
Website: https://www.alankit.com/
Lead Manager(s)
- IDBI Capital Market Services Limited (Past IPO Performance)
- SBI Capital Markets Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
