Midfield Industries Ltd. IPO oversubscribed 12.92 times
Overall - 12.92 times HNI - 48.41 times Retail - 13.50 times QIB - 1.86 times
Tweet-- The Initial Public Offer of Midfield Industries Ltd. received a overwhelming response as it got subscribed 12.92 times, according to data available on the stock exchanges. The HNI portion got subscribed 48.41 times while the retail and QIB portion got subscribed 13.50 and 1.86 times respectively.
Midfield Industries Limited entered the Indian Capital Markets on July 19, 2010 with an IPO ("The Issue") of 4,500,000 equity shares of Rs. 10 each with a price band of Rs. 126 to Rs 133. Atherstone Capital Markets Limited is the Book Running Lead Manager to the Issue and Bigshare Services Pvt. Ltd is the Registrar to the Issue.
Midfield Industries proposes to utilize the part of the net proceeds of the issue to fund the expansion of its existing plants as well as to set up new manufacturing facilities. The Company intends to expand its current manufacturing facilities at Hyderabad, Mumbai and Roorke while setting up a new VCI paper facility at Hyderabad and a High Tensile Steel Strapping facility at Sharjah.
