Midhani IPO's price band is between Rs 87 and Rs 90.
A government of India enterprise, Mishra Dhatu Nigam Limited (Midhani) opened for an IPO (initial public offering) on Wednesday. The Mishra Dhatu Nigam IPO, also known as Midhani IPO, is a public offer for over 4.87 crore equity shares. The total numbers of bids received are for 1.25 crore shares, which is 26 percent of the total issue. The company was set up in 1973 at Hyderabad with the objective of providing India self-reliance in strategic materials. For over 30 years, Mishra Dhatu Nigam (Midhani) has been handling tasks of developing alloys, taking a lead position in indigenization of critical technologies and products to render support to several programmes of national importance and hi-techology segments of country's industry. The company has now started offering its core competence of developing and manufacturing custom made alloys to suit the specific requirements of customers for their critical applications.
Mishra Dhatu Nigam (Midhani) IPO. Five Things To Know
1. The Mishra Dhatu Nigam IPO opened on Wednesday, and will close on Friday.
2. The Mishra Dhatu Nigam IPO's price band is between Rs 87 and Rs 90.
3. The minimum order quantity is 150 equity shares, and in multiples thereof. There is a discount of Rs 3 each to retail customers and also to the employees of company.
4. The price/earnings (P/E) of the issue is between 12.91 and 13.35 on the basis of the Mishra Dhatu Nigam IPO which is between Rs 87 and Rs 90.
5. The earnings per share (EPS) of Mishra Dhatu Nigam as of March 31, 2017 stood at Rs 6.74 against Rs 6.37 for the preceding year. The return on net worth (RoNW) as of March 31, 2017 is 17.93 per cent while the corresponding figure for the preceding year is 19.26 percent.
