Mishra Dhatu Nigam's Rs 4.4-billion IPO manages to scrape through

The Rs 4.4-billion IPO of Mishra Dhatu Nigam (Midhani) managed to sail through helped by institutional investors. The offer garnered 1.2 times subscription. Portions of retail and high net worth individuals were subscribed 72 per cent and 12 per cent, respectively.
 
The offer failed to garner any bid from foreign institutions. The Centre divested a 26 per cent stake through the IPO.