State-owned Mishra Dhatu Nigam has filed draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The public offer will comprise a sale of up to 46,835,000 equity shares, or 25% stake, by the company's promoter.
The objects of the Offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. SBI Capital Markets and IDBI Capital Markets and Securities are book running lead managers to the issue.
Mishra Dhatu Nigam (MIDHANI) manufactures advanced metals and alloys. The company produces super, titanium, and electrical alloys, as well as special purpose steels.