Success is Guaranteed with Team Work” says Kiran More while inaugurating ‘AVA Premier League - Union Commerce Minister Suresh Prabhu urges Export Promotion Councils such as CHEMEXCIL to act like think tanks to help exporters to develop macro strategy for increasing exports! - UBM India’s Children, Baby Maternity Expo 2018 readies itself to match high industry expectations - The All India Gem & Jewellery Domestic Council (GJC) sets the 2025 Growth Vision for India’s gems & jewellery sector at Manthan Gems & Jewellery Conclave 2018 - MTDC associates with Global Vipassana Pagoda in Gorai to create Spiritual Buddhist Circuits and promote wellness tourism - Maharashtra to promote itself as Medical and Wellness Tourism Destination at Arabian Travel Market 2018 - UBM India commences the third edition of RenewX in Hyderabad - NASSCOM CoE (IoT) to co-organize “THE AEONIAN 2018” - EOW action is strangling a listed entity : 63 moons - Mumbai to host analytica Anacon India and India Lab Expo in April 2018 - UBM India announces the maiden edition of The Chennai Jewellery and Gem Fair - Over 150 Exhibitors to Showcase at the third edition of RenewX in Hyderabad - LANXESS improves the performance of its plastic metal hybrid technology - Malabar Gold & Diamonds signs up Miss World Manushi Chhillar as Brand Ambassador - Kokuyo Camlin & Yash Raj Films felicitate winners at KidZania - “LANXESS posts record earnings for 2017 and a good start to the new fiscal year” - GJIIE 2018 gets underway in Chennai paves way for abundance opportunities - Ryan Global School Celebrates it’s Annual Day with “The Quest for Happiness” - Almond Board of California hosted a Panel Discussion on Working Mother’s Dilemma in Ensuring Family Health - CBI COURT DISCHARGES MR. VIRENDRA D. MHAISKAR, CMD, IRB INFRASTRUCTURE DEVELOPERS LTD AND OTHER COMPANY OFFICIALS FROM ALL CHARGES FRAMED BY CBI - Brigade Group Leading Real Estate Developers headquartered in Bangalore Unveils the Brigade Financial Centre at GIFT City - Shriram General Insurance issues more than 40,000 policies a month via mobile app, M- Nova - GJC announces Manthan Gems & Jewellery Conclave 2018 on April 5- 6, 2018 - Samarth Bank Brand Ambassador Kedar Jadhav inaugurated the banks 25th Branch in Dadar - Thomas Cook India Launches Hello Series-a One Week Getaway featuring a single standalone destination as its weekend Grand Holiday Carnival - LANXESS India showcases its latest innovations for paint and coating industry - Bosch Power Tools launches it’s first-ever ‘Service on Wheels’ initiative in India - Triumph Motorcycles India launches the All-New TIGER 800 XCX and XR line-up - Over 600 entries confirmed for Rs 50 lakh Mr India Championships - Chief Minister of Maharashtra, Shri. Devendra Fadnavis to grace the first ever ‘TATA Horn –Not – Ok – Please’ T20 Cup - S.S. Infrastructure Development Consultants Limited to launch IPO on EMERGE Platform of National Stock Exchange of India Limited on 28 March, 2018 Price band of Rs. 37/- to Rs. 40/- per Equity Share of Face value of Rs. 10/- each - New India Assurance launches Global Mediclaim Policy - MSCDA Collaborates with Medipta Solutions as a Technology Partner in Maharashtra - वास्तववादी व्यक्तींच्या कर्तृत्वाची जाणीव करुन देणारा पुरस्कार-किरण नगरकर - Lemon Tree Hotels Limited: Initial Public Offer/ Bid/ Offer Period to open on March 26, 2018* and to close on March 28, 2018 Price Band: Rs. 54 to Rs.56 per equity share each of face value Rs.10 - SME IPO of Benara Bearings & Pistons Limited to open on March 20, 2018 with price band of Rs 60 to Rs 63 per equity share of face value of Rs. 10 each - ICICI Securities Limited: Initial Public Offer to open on March 22, 2018 and to close on March 26, 2018 Price Band: Rs. 519 to Rs. 520 per Equity Share - Mishra Dhatu Nigam Limited’s (MIDHANI) IPO to open on Wednesday, March 21, 2018 with a price band of Rs. 87 to Rs. 90 per Equity Share - Ashwin Sheth Group and Sussanne Khan come together for a momentous partnership - Rahul Tekwani : Most Promising PR Person of the Year - Blue Star launches 40 new models of highly energy-efficient inverter split air conditioners, designed to deliver extraordinary benefits - Hindustan Aeronautics Limited: Initial Public Offering Bidding to open on March 16, 2018 and to close on March 20, 2018 with Price Band : Rs. 1,215 to Rs. 1,240 per Equity Share - Dhruv Consultancy Services Ltd announced initial public offer on BSE SME platform Fixed Price Issue Price Rs. 54/- per share with Face Value of Rs. 10/- per share - NaMo Bandra Blasters Vs. Shivaji Park Lions, Iyer, Khan lead Blasters to victory over Lions - Indian businesses must reap the benefits of Estonia’s ICT sector and e-governance services - Tissot, the renowned Swiss watch brand launched its new Boutique at Palladium Mall with Brand Ambassador Virat Kohli - Over 450 brands to showcase at the 14th edition of Gem & Jewellery India International Exhibition (GJIIE) in Chennai - Sandhar Technologies Limited: Initial Public Offer of equity shares of face value Rs. 10 each (the “Equity Shares”) to open on March 19, 2018 and to close on March 21 - Grand Opening Ceremony for the T20 Mumbai League - BANDHAN BANK LIMITED: Initial Public Offer of equity shares of face value Rs. 10 each (the “Equity Shares”) to open on March 15, 2018 and to close on March 19, 2018 Price Band: Rs. 370 to Rs. 375 per Equity Share - Sarveshwar Foods SME IPO to open on March 5, Price Band fixed at Rs 83-85 - One platform for all electric solutions globally- ELECRAMA 2018 - OIL & GAS WORLD EXPO 2018 At Business Centre, CIDCO Exhibition Centre, Vashi, Navi Mumbai February 21-23, 2018 - Godrej Appliances sets new benchmark by launching India’s most power saving AC with 6.15 ISEER - Entrepreneurial couple celebrates daughter's birthday in a unique way. Starts self funded NGO – “NEW INDIA”; Commits Rs 200 crores for the underprivileged - NRI Software Professional Rajnish Bajpai speaks on his Vision and Perspective of making Indian villages modern with the concept of Smartgaon - Universal Robots Showcases ‘Cobots’ at AeroDef India 2018 - INDIA’ S ATOMIC ENERGY PROGRAMME NEEDS A BOOST AND THE SUBSIDY SIMILAR TO SOLAR POWER PLANTS SHOULD BE EXTENDED TO NUCLEAR SECTOR – ANIL KAKODKAR - UBM India and Bologna Fiere will launch COSMOPROF INDIA PREVIEW:The new event for the international beauty community - BAJAJ ALLIANZ LIFE LAUNCHES ONE-OF-ITS KIND ULIP WITH RETURN OF MORTALITY CHARGES - LANXESS “High-quality products for leather manufacturing” - Center of Power on the Move : West to East – BY SANDEEP DEWAN - Queens N Queens plans to promote Indian talent internationally with the launch of their beauty beauty pageant contest 2018 - Asia’s largest event on professional cleaning, Clean India Show along with Waste Technology Expo, Laundrex India Expo and Car Care expo, to be inaugurated by Dr Ranjit Patil, Minister of State, Home (Urban), Urban Development, Government Of Maharashtra - Tata Sky ties up with Ola Sunburn Festival 2017 - Tata Sky Beauty inspires women to discover their own definition of beauty
  Print Print |  E-mail

Mishra Dhatu Nigam Limited’s (MIDHANI) IPO to open on Wednesday, March 21, 2018 with a price band of Rs. 87 to Rs. 90 per Equity Share

(From Left to Right) – Mr.Narayanan Sadanandan (SBI Capital Markets Limited, Dr. Dinesh Kumar Likhi (Chairman & Managing Director) Mishra Dhatu Nigam Limited’s, Mr.Sanjeev Singhal (Director – Finance) Mishra Dhatu Nigam Limited’s & Mr.Nalin Kumar (EVP – IDBI Capital Markets & Securities Limited) - Photo By Sachin Murdeshwar GNS (From Left to Right) – Mr.Narayanan Sadanandan (SBI Capital Markets Limited, Dr. Dinesh Kumar Likhi (Chairman & Managing Director) Mishra Dhatu Nigam Limited’s, Mr.Sanjeev Singhal (Director – Finance) Mishra Dhatu Nigam Limited’s & Mr.Nalin Kumar (EVP – IDBI Capital Markets & Securities Limited) - Photo By Sachin Murdeshwar GNS
Dr. Dinesh Kumar Likhi (Chairman & Managing Director) Mishra Dhatu Nigam Limited - Photo By Sachin Murdeshwar GNS

Dr. Dinesh Kumar Likhi (Chairman & Managing Director) Mishra Dhatu Nigam Limited – Photo By Sachin Murdeshwar GNS.

MUMBAI, March 14, 2018 (GNS) : Mishra Dhatu Nigam Limited’s (MIDHANI) (“Company”), one of the leading manufacturers of special steels, Superalloys and only manufacturer of titanium alloys in India, will be launching its initial public offering (“IPO” or the “Offer”) which is scheduled to open on March 21, 2018 and close on March 23, 2018, with a price band of Rs. 87 – Rs. 90 per EquityShare of face value of Rs. 10 each of the Company (the “Equity Shares”).

The IPO comprises of an Offer of 48,708,400 Equity Shares, an Offer for Sale by the President of India acting through the Ministry of Defence. The IPO consists of a reservation of up to 1,873,400 Equity Shares for subscription by Eligible Employees and the Net Public Offer of 46,835,000 Equity Shares.

The objects of the Offer are: (i) to carry out the disinvestment of 48,708,400 Equity Shares by the Selling Shareholder constituting 26% of Company’s pre-Offer paid up Equity Share capital; and (ii) to achieve the benefits of listing the Equity Shares on the Stock Exchanges. The Company will not receive any proceeds from the Offer and all proceeds shall go to the Selling Shareholder.

The Offer and the Net Offer will constitute 26.00% and 25.00% respectively, of the post offer paid-up equity share capital of the Company.

SBI Capital Markets Limited and IDBI Capital Markets & Securities Limited are the Book Running Lead Managers (“BRLMs”) to the Offer.

The Equity Shares of MIDHANI are proposed to be listed on BSE and NSE.

About Mishra Dhatu Nigam Limited:

MIDHANI is one of the leading manufacturers of special steels, Superalloys and only manufacturer of Titanium alloys in India. These are high value products which cater to niche end user segments such as defence, space and energy. MIDHANI was established in the year 1973, with an aim of achieving self-reliance in the research, development and supply of critical alloys and products of national security and strategic importance. The Company has emerged as a ‘National Centre for Excellence’ in advanced metallurgical production of special metals and Super alloys in India. MIDHANI has the technological ability to manufacture a wide range of advanced metals and alloys under one roof. With the growth in business and operations, company achieved the status of a Mini Ratna, Category-I company in 2009.

MIDHANI is one of the few metallurgical plant of its kind in the world, designed to manufacture a wide range of special metals and alloys using integrated and highly flexible manufacturing systems, MIDHANI manufactures unique combinations of metal and alloys. These special alloys have superior mechanical properties and better workability essential for special applications in aerospace, power generation, nuclear, defence and other general engineering industries. The Company’s products are key ingredients for strategic sectors in India, which typically are not available for import from other countries due to its national security concerns. MIDHANI manufactures special steels like martensitic steel, ultra high strength steel, austenitic steel and precipitation hardening steel. MIDHANI has the competence to develope and manufacture customised alloys tailor-made to suit specific requirements of customers for critical applications. Presently, MIDHANI conducts its operations at the manufacturing facility located in Hyderabad. MIDHANI is in the process of setting up two new manufacturing facilities in Rohtak and Nellore. MIDHANI is ISO 9001– Quality Management System certified and AS 9100 C certified for manufacturing and supply of metals and alloy products.

MIDHANI has continuously posted profits in the last five fiscals. On a restated basis, the total revenues grew at a CAGR of 9.23% from ₹5,851.89 million for Fiscal 2013 to ₹8,330.90 million for Fiscal 2017 and PAT grew at a CAGR of 7.68% from ₹939.55 million for Fiscal 2013 to ₹1263.13 million for Fiscal 2017. MIDHANI has earned a PAT of ₹273.01 million on a total revenue of ₹2,206.61 million for the six months period ended September 30, 2017.ENDS