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Issue Open Date
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19-Jul-10
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Issue Closing Date
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21-Jul-10
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Application Money
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100
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Allotment Money
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Price Band
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126
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133
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Minimium Application No.
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Issue Size (Shares)
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4500000
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Market Lot
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1
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Objective
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The objects of the issue are as follows:1) Expansion of capacities at the existing plants;2) Setting up new facilities;3) Augmenting long term working capital requirement of the Company;4) General Corporate Purposes; and5) Achieve the benefits of listing on the Stock Exchange.
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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675000
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32675100
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48.4075555555556
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Qualified Institutional Buyers
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2250000
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4190050
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1.86224444444444
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Retail Individual Investors
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1575000
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21283100
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13.5130793650794
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Business Description
We are amongst the few players in the organized segment of packaging industry catering to thegrowing demand for Industrial packaging consumables in India. We provide packaging consumableslike high tensile steel strapping in various dimensions and strengths, Different Seals for differentapplications, Collated Nails & Corner boards being used for general and the end of line packaging ofgoods by varied industries. We also provide comprehensive end to end packaging solutions to ourcustomers at their locations which enables them to focus on their core products and competencies.Given our experience of 16 years in manufacturing and marketing of industrial packagingconsumables we understand the packaging requirements of our clientele and serve both domestic, aswell as, international markets. Currently, we cater to companies across wide spectrum of industrieslike steel, aluminum, glass, copper, paper, automobile, white goods and refractory to name a few.Our Company was incorporated in the year 1990 under the name “Midfield Steels Pvt. Ltd” with theobject of tapping an emerging niche segment of industrial packaging in India. We started ourmanufacturing activities in the year 1993 by setting up facilities at IDA Jeedimetla, Hyderabad tomanufacture low tensile steel strapping with an installed capacity of 3600 MTA (Metric Tonnes perAnnum). Mr.Appasani Radhakrishna and Mr.Kancherla Bala Bhanu promoted our Company. Mr. A.Radhakrishna was appointed as its Managing Director. Mr. Madhu Mohan Reddy, the presentChairman and Managing Director, joined the Company in the year 1994 as General Manager chargedwith the responsibility of directing the marketing efforts of our Company to tap new clientele fromvaried industrial sector(s). Mr. Madhu Mohan Reddy brought with him an experience of 13 years in thefield of Industrial Packaging. Prior to joining our Company, he was working with ITW Signode IndiaLtd. as Divisional Manager – Apex (Steel Strapping). With the coordinated efforts of all associated, wewere able to tap new customers and secure orders from customers across India. In 1996, Mr. MadhuMohan Reddy was co-opted on the Board of the company as Director. In the year 1997, owingpersonal reasons, Mr. A. Radhakrishna decided against continuing with our Company and requestedMr. K.Balabhanu & Mr. Madhu Mohan Reddy to take over the reins of the Company on ‘as is where isbasis’. Accordingly, they took over the reins of the Company with Mr.K.Balabhanu appointed as theManaging Director of the company. In July 1998 Mr. K Balabhanu also decided against continuingwith the company and part ways. Mr. Madhu Mohan Reddy took over the mantle as a Promoter of ourCompany, as well as, the reins of the business from Mr. K.Balabhanu and was appointed as itsManaging Director and continues to be so till date.
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Promoter's Holding
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Total Share Capital
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8321250
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Offered to Public
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4500000
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Promoter's Holding (Pre-Issue)
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100
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Promoter's Holding (Post-Issue)
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42.49
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Address |
Plot No. 6
Phase I V Extn
I D A
Jeedimetla
Hyderabad,
Andhra Pradesh,
500055
Phone : +91-40-23098502
Email : strappings@midfieldindustries.com
Website : www.midfieldindustries.com
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Registrar |
Bigshare Services Pvt Ltd
G 10 Left Wing Amruta Village
Opp: Yashoda Hospital
Raj Bhavan Road
Somajiguda
Hyderabad
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Listed at |
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BSE
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Lead Manager |
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Atherstone Capital Markets Ltd.
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Promoters |
M Supraja
Madhu Mohan Reddy
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