Midfield Industries IPO : Finally subscribed 12.92 times

by khalid on 24/07/2010 · 0 comments

Midfield Industries Ltd is a leading manufacturers of steel strapping systems and providers of packaging solutions. The IPO of Midfield Industries Ltd has received a good response from the investors with the final over-subscription figure nearing to about 12.92 times on an overall basis. The IPO has managed to garner a magnificent response from Non Institutional Investors Category where it overbid by 48.41 times on the final day.

The category-wise subscription status of Midfield Industries on closing day is given below:-

QIB : 1.86 Times
Non-Institutional Investors : 48.41 Times
Retail Investors : 13.51 Times
Overall : 12.92 Times

The proceeds of the IPO will be used for expansion of capacities at the existing plants, setting up new facilities, augmenting long term working capital requirement of the Company, general Corporate Purposes and achieve the benefits of listing on the Stock Exchange.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The book running lead managers to the issue is Atherstone Capital Markets Limited.

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

Previous post:

Next post: