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Mishra Dhatu Nigam closes flat after a sluggish debut on bourses

Author: PTI/Wednesday, April 4, 2018/Categories: Stocks

Mishra Dhatu Nigam closes flat after a sluggish debut on bourses

New Delhi, April 4: Shares of speciality alloy maker Mishra Dhatu Nigam (MIDHANI) today settled at the issue price of Rs 90.

In a sluggish debut, the stock today got listed at Rs 87 on the bourses, with a discount of 3.33% over its issue price of Rs 90.

During the day, the stock saw an intra-day high of Rs 90.90 and an intra-day low of Rs 86.35 and finally ended at Rs 90.

On NSE stock got listed at Rs 87, with a discount of 3.33%. During the day the stock touched a high of Rs 91 and a low of Rs 86.05 and finally settled at Rs 90.10.

At the end of today's trading session, the market capitalisation of the company stood at Rs 1,686.06 crore.

The initial public offer (IPO) of the speciality alloy maker was subscribed 1.21 times.

The public issue of the state-owned firm to raise Rs 438 crore received bids for 5,90,65,050 shares against the total issue size of 4,87,08,400 shares.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.96 times, non-institutional investors 12% and retail investors 72%, merchant banking sources said.

MIDHANI is one of the leading manufacturers of special steels, super alloys and only manufacturer of titanium alloys in India.

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