Midfield Industries-IPO Note - ANS Pvt. Ltd.

Issue DetailsSectorIndustry-PackagingIssue Size Rs. 56.70 - 59.85 CroreQIBs * 2,250,000Non-Institutional* 675,000Retail* 1,575,000Face Value Rs. 10 Per Equity SharePrice Band Rs. 126 - Rs. 133BRLMsAtherstone CapitalMarkets LimitedRegistrarBigshare Services Pvt.LtdCompany Address:Registered OfficePlot No. 6, Phase IV Extn,IDA Jeedimetla,Hyderabad- 500055, Andhra Pradesh* Minimum allotmentRATINGS: Brickwork Ratings India Pvt Ltd has given an IPO rating of Grade 2 tothe issue suggesting below average fundamental.Established in the year 1991, the company was formerly known as Midfield Steels Pvt Ltd. Thecompany was renamed to Midfield Industries Ltd. In the year 2006. The company providespackaging consumables like high tensile steel strapping in various dimensions and strengths,Different Seals for different applications, Collated Nails & Corner boards being used for generaland the end of line packaging of goods by varied industries. The company also providescomprehensive end to end packaging solutions to their customers at their locations whichenable them to focus on their core products and competencies. The company caters to thecompanies across wide spectrum of industries like steel, aluminum, glass, copper, paper,automobile, white goods and refractory to name a few.Steel Strapping’s of Midfield are of two grades, Supreme and Mega Supreme. Supreme SteelStrapping is made of low carbon, low manganese cold rolled steel. Mega Supreme SteelStrapping is made of medium carbon, high-manganese cold rolled steel. Supreme is designedfor low duty packaging applications, where as, Mega Supreme is designed for heavy-dutyapplications. Mega Supreme steel strapping is heat-treated, using a Midfield developedprocess. The result is a product that combines the fine surface and controlled physicalproperties of cold-rolled strapping with ductility and excellent shock resistance. In 2007, thecompany set up unit at Roorkee, Uttranchal to manufacture angle boards.Objects of the Issue:The objects of the issue are: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 Purposes5. Achieve the benefits of listing on the Stock Exchange.