Midfield Industries IPO

Comprehensive end to end packaging solution company Midfield Industries announced its initial public offering  open July 19 and would remain open for subscription till July 21-2010. Midfield issue nearly 45 lacks Equity Shares to raise nearly Rs 56-59 crore -through the IPO issue.The price band of the issue is Rs.126 (lower level) to Rs.133 (higher level). ( IPO NEWS)

The company incorporated in 1990, provide comprehensive end to end packaging solutions and major objective of the company (Midfield) is tapping industrial packaging segment in India. It provide packaging consumables like high tensile steel strapping in various dimensions (size) and strengths, different seals for different applications, collated nails and corner boards being used for general and the end of line packaging of goods by various industries.

The IPOs issue proceeds will be used for setting up new facilities, expansion of capacities at the existing plants; and increase long term working capital requirement of the company(Midfield).

Midfield Industries financial status

31-Mar-06, the company has reported profit after tax of Rs 17 Lacs (total income of Rs 4.39 Crore). 31-Mar-08, profit after tax of Rs 41 Lacs (total income of Rs 7.01 Crore). 31-Mar-09, it has posted profit after tax of Rs 59 Lacs (total income of Rs 8.43 Crore).

Face Value; Rs.10
Tick Size;
Minimum Order Qty:
Market Lot:
Issue Type is Book Building.

IPO Grade

BWR (Brickwork Ratings) has assigned IPO Grade 2 to the initial public offer of  Midfield IndustriesLtd, this indicating company ‘ Below Average Fundamentals’

VM.Venkatesh IPO view, The company does not have a dividend history owing to the need of funding its significant expansion.so i think it is risk, some chance for down up to 115 level .

Conduct details

Address: No. 6, Phase IV Extn, IDA Jeedimetla, Hyderabad- 500055, Andhra Pradesh
Phone number; 91-40 23098502 Fax detail; 91-40 23096493
Email address; ipo@midfieldindustries.com
Website Url: http://www.midfieldindustries.com

Bigshare Services Private Ltd and Atherstone Capital Markets Ltd are the Book Running Lead Managers for Midfield IPOs.

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