Midfield Industries IPO : Opening on 19th July 2010

by khalid on 17/07/2010 · 0 comments

Midfield Industries Ltd is a leading manufacturers of steel strapping systems and providers of packaging solutions. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 60 Crore. The IPO is opening on 19th Jul 2010 and the shares will be available for subscription up to 21st Jul 2010. The premium of the issue will be decided through a 100% Book Building Process.

Promoters of the company are Mr. M. Madhu Mohan Reddy and Mrs. M Supraja.

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 offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Issue Detail:-
Issue Open : 19th July 2010 – 21st July 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 4,500,000 Equity Shares of Rs 10 each
Issue Size : Rs. 56.70 – 59.85 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 126 – Rs. 133 Per Equity Share
Market Lot : 50 Shares
Minimum Order Quantity : 50 Shares
Listing At : BSE, NSE

Book running lead managers to the issue is Atherstone Capital Markets Limited

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