 "IPO")
State-owned Mishra Dhatu Nigam (Midhani) will be launching its Rs 4.4 billion initial public offering(IPO) next week. Through the IPO, government will be divesting 26 per cent stake in the company. The price band for the offering has been fixed in the range of Rs 87-90 apiece. At the upper price band, Midhani will be valued at Rs 16.86 billion.
Retail investors and employees of Midhani will get a discount of Rs 3 per share over the issue price. SBI Caps and IDBI Bank are the book running managers for the issue.
Midhani makes special steel and super alloys for defence, aerospace
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