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Business News/ Market / Stock-market-news/  Mishra Dhatu Nigam IPO sees 26% subscription on Day 1
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Mishra Dhatu Nigam IPO sees 26% subscription on Day 1

Mishra Dhatu Nigam IPO to raise Rs438 crore received bids for 12,520,350 shares against the total issue size of 48,708,400 shares, NSE data showed

Price band for the Midhani IPO has been fixed at Rs87-90. Photo: iStockphotoPremium
Price band for the Midhani IPO has been fixed at Rs87-90. Photo: iStockphoto

New Delhi: The initial public offer of speciality alloy maker Mishra Dhatu Nigam (Midhani) saw 26% subscription on the first day of bidding on Wednesday.

The Mishra Dhatu Nigam IPO to raise Rs438 crore received bids for 1,25,20,350 shares against the total issue size of 48,708,400 shares, NSE data showed. The portion set aside for qualified institutional buyers (QIBs) was subscribed 46% and retail investors 11%.

The Mishra Dhatu Nigam IPO is of 48,708,400 shares and would close on 23 March. Price band for the issue has been fixed at Rs87-90.

SBI Capital Markets and IDBI Capital Markets & Securities are managing the PSU IPO.

The shares of Mishra Dhatu Nigam are proposed to be listed on BSE and NSE. Midhani is one of the leading manufacturers of special steels, super alloys and only manufacturer of titanium alloys in India.

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Published: 21 Mar 2018, 08:31 PM IST
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