Midfield Industries Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 2,250,000 (50%) | — | ₹2,993 Cr |
| NII (HNI) | — | 675,000 (15%) | — | ₹898 Cr |
| Retail | — | 1,575,000 (35%) | — | ₹2,095 Cr |
| Σ Total | — | 4,500,000 (100%) | — | ₹59,850 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹6,650 |
| Retail (Max) | 13 | 650 | ₹86,450 |
| S-HNI (Min) | 14 | 700 | ₹93,100 |
| B-HNI (Min) | 67 | 3,350 | ₹445,550 |
Financial Statements Amount in ₹ Crore
| Metric | 31-Mar-09 | 31-Mar-08 | 31-Mar-07 |
|---|---|---|---|
| Revenue | 84 | 70 | 52 |
| Profit After Tax | 6 | 4 | 2 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Expansion of capacities at the existing plants – 13.15
- 2 Setting up new facilities – 4.16
- 3 Augmenting long term working capital requirement of the Company; – 5.35
- 4 General Corporate Purposes – 5.95
- 5 Setting up new facility for manufacturing High Tensile Steel Strapping and seals at Sharjah – 12.70
- 6 Expansion at existing manufacturing facility at Mumbai, by setting up Angle Board, Collated Nails, Seals and Heat Treatment Plant – 6.27
- 7 Expansion at existing manufacturing facility at Roorkee, by setting up Angle Board and Collated Nails, Seals – 1.59
- 8 Issue Expenses – 5.95
Company Overview
Incorporated in 1991, Midfield Industries Ltd is a leading manufacturers of steel strapping systems and providers of packaging solutions. Midfield provide packaging consumables like high tensile steel strapping in various dimensions and strengths, Different Seals for different applications, Collated Nails & Corner boards being used for general and the end of line packaging of goods by varied industries. Currently, the company caters to companies across wide spectrum of industries like steel, aluminium, glass, copper, paper, automobile, white goods and refractory etc.
Steel Strappings of Midfield are of two grades, Supreme and Mega Supreme. Supreme Steel Strapping is made of low carbon, low manganese cold rolled steel. Mega Supreme Steel Strapping is made of medium carbon, high-manganese cold rolled steel. Supreme is designed for low duty packaging applications, where as, Mega Supreme is designed for heavy-duty applications.