The initial public offer of speciality alloy maker Mishra Dhatu Nigam (MIDHANI) was subscribed 64 per cent on the second day of bidding today.
The IPO of the state-owned firm to raise Rs 438 crore received bids for 3,10,74,150 shares against the total issue size of 4,87,08,400 shares, data available with the NSE showed.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.09 times, non institutional investors 1 per cent and retail investors 31 per cent.
The IPO of 48,708,400 shares would close tomorrow.
The price band for the issue has been fixed at Rs 87-90.
SBI Capital Markets and IDBI Capital Markets & Securities are managing the issue.
The shares of MIDHANI are proposed to be listed on BSE and NSE.
MIDHANI is one of the leading manufacturers of special steels, super alloys and the only manufacturer of titanium alloys in India.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app