Midfield Industries Ltd IPO Message Board (Page 7)

definite apply for those who have not applied run quickly
as this is their last chance to make easy money.
do not go by media websites etc all modify facts to their advantages see the subscription figure
return here on 15august 2010 and check

so called ipo expert advice is rubbish ! check the subscription facts.. Definite returns !

all experts said ipo was weak but it was oversubscribed on day 1 itself. follow instinct ... im holding !

Not a single share bid from HNI/QIB today as of now.

It seems it is a trap for retail investors

I am not applying in this IPO but if anyone have doubt then visit NSE site->IPO-> Bid detail-> Excel file and from there I have got this figure.

Dont withdraw nw,just wait for til today,if it go 10 12 time in retail,then dont worry,u find some listing gain,even though every one were sayng nt to apply hmv see everyone get decent gain,so wait for today n then take decision,i apply 6 ful applicaton

mid field 3.10 times in retail till 1=30pm

@94MN, Hi this IPO is going to be listed only in BSE, so you have to check BSE web site. NSE, there is no information furnished. How did you got these numbers????

NII is 9.5

Non Institutional Investors=0.0
RII=1.97
QIB=.43

source: NSE 1:31PM

Dear All,

I have applied one full application thru ICICI direct on line. Now I want to withdraw from this IPO. Is it possible to withdraw from this IPO even if it is applied thru on-line. Please advice

Thanks

latest subscription figer please..

88. ipowatcher I also agree with
85. Sudeep Very useful and rare information. It made my decision not to apply for this easy. Heartiest thanks.

latest subscription?

My earnest and sicere appeal to all boarderers is NOT to apply for Midfield IPO. CM rating=20, BL has not given subscribe call. No appetite from MF. No angel investors. and finally, our dear Gem , sreedhar, Shaharanpuri, & Ravi are not even anlaysing it!!

Dont go by subscription and listing gain and get trapped.

After my loss in India bulls power , which I subscribed looking only by subscription figures, I always go by above parameters.

Latest GMP

Midfield
Only seller @14 Rs
No buyer of share

Operator and management are not buying becoz they know that issue has already subscribed..now everyone selling the shares

sudeep,well said,u have put all possible negatives..this is purely operator driven ipo that is why it was heavily sub. on very first day...retail investor have to be very careful in this type of ipo

Stongly Avoid!!

I happen to work in company which is in close proximity to this company and would say avoid.

Reasons:

1. Of the 50crs being capitalised from the market atleast 10 crs are going in for paying bad debts, sale tax dues.

2. The cash flow of the company is very bad 4/5 instances it is negative

3. The future for their main product (steel strapping) is very bleak as demand for plastic strapping (polyester) is on the rise

4. The pramoter in his interview claims that they would double the capacity of their hyderabad plant in 4-5 months and start of production in sharja and their another plant in this financial year. The fact is they have not yet aquired any land in hyderabad nor sharja as yet. So the estimates seems to be doubtful.

5. Their website is also a newly launched one, seems to be put up just before the IPO for the sake of it

6. It is strongly being pramoted by a single person and lack due professionalisam and credible top management. Its a typical family oriented small scale company. Their is a huge risk of mismanaging the funds.

7. Th body language of the pramorter doesnt seems so right in the interview. It could be easily seen that he was not his natural self and bluffing.

8. The company also delayed the renewing of their factory licences by about an year in more then one instance. And this happened in the case of all the plants. They claim that this happened by oversight. Clearly shows their management.

9. The profit margins for a small company is less then 10% and upon scale up their would definelty be drop in margings as usually noted. It that case their is harly any pie left.

10.They also claim that a significant part of their sales comes from their pramorters buying through associate companies and individuals. This clearly shows that their is something fishy about the sales figures.

@ 80 priyanka. Please note that the ipo of Hindustan media ventures was in a price band of 162 - 175 and was listed on 166. Hence their was already some scope for profit built into the listing but in the case of this issue the way subscription is happening it is likely that it would be listed at 133, the upper price band. And so people looking for listing gains may also note that even if their are any gains they would be minimal. Hence doesnt justify the risk

The views are solely my personal and you may take your own informed call at your own risk

Regards

At 11an, overall 2.42times, retail 1.79times. Looks to do atleast 10times overall or even more.

Midfield Industries,

Negatives are more, rather than positive points.

-ve
1. Poor IPO rating
2. Poor financials
3. Owned by individual
4. Poor grade IPO from NSE
5. Business prospectous not attractive

+ve

Nil

Risk Factors:

1. NII may withdraw their subcribtion
2. IPO played by broker/set of groups for manipulation

Note: Those who wants to take risk can go for this issue.

Dil ki baat suno...I am not applying Thanks Sojo for info.

@Priyanka: When I am confused, I follow my sentiments and my common sense. I too am confused about this IPO but my common sense says NO for this IPO and I am going to follow that.

This is a family owned small business which is a risky proposition. One of the reasons it's oversubscribed is, there are only 15+ lakhs shares being floated for retail investors. If on an average retail investors bid for 150 shares, 10000 retail investors are enough to make it oversubscribed.