Mishra Dhatu Nigam IPO Basis of Allotment

MISHRA DHATU NIGAM LIMITED

Our Company was incorporated as, Mishra Dhatu Nigam Private Limited on November 20, 1973 under applicable provisions of the Companies Act, 1956, with the Registrar of Companies, Andhra Pradesh and Telangana at Hyderabad ('RoC'). Being a Government Company, the word 'private' was deleted from the name of our company by the RoC on June 15,1974 by virtue of General Statutory Rules (''G.S.R') No. 1234 dated December 30, 1958 issued by the Central Government. The status of our Company was changed from 'private limited company ' to 'deemed public limited company' under the provision of section 43A of the Companies Act, 1956 with effect from July 01,1983. Thereafter, the status of our Company was again changed to 'private limited' pursuant to the notification of the Companies ( Amendment) Act, 2000 on February 27, 2001 and the word 'private' was not inserted in the certificate of incorporation by virtue of the above said G.S.R. Our Company was converted into a 'public limited company' with effect from November 13, 2017 and a fresh certificate of incorporation consequent upon conversion to public limited company was issued by the RoC. For further details, see 'History and Certain Corporate Matters' on page 114, of the prospectus darted March 26, 2018 ('Prospectus'').

Registered and Corporate Office: P.O. Kanchanbagh, Hyderabad - 500 058, Telangana, India; Contact Parson: Paul Antony, Company Secretary and Compliance Officer;
Telephone: +91 40 2434 0853 | Fax: +91 40 2434 0214

E-mail: secretary@midhani.com   | Website: www.midhani.com   | Corporate Identification Number U14292TG1973GO1001660

OUR PROMOTER: THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF DEFENCE, GOVERNMENT OF INDIA

Our Company has Registered the Prospectus dated March 26, 2018 with the RoC and the Equity Shares are proposed to be listed on the BSE Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and the trading will commence on April 4, 2016.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 48,708,400 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF MISHRA DHATU NIGAM LIMITED (OUR 'COMPANY' OR THE 'ISSUER') THROUGH AN OFFER FOR SALE BY OUR PROMOTER. THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF DEFENCE, GOVERNMENT OF INDIA (THE 'SELLING SHAREHOLDER'), FOR CASH AT A PRICE' OF RS 90 PER EQUITY SHARE (THE 'OFFER PRICE'), AGGREGATING TO RS 4,350.18 MILLION (THE 'OFFER'). THE COMPANY HAS RESERVED A PORTION OF 1,873,400 EQUITY SHARES FOR ALLOCATION AND ALLOTMENT TO ELIGIBLE EMPLOYEES, ('EMPLOYEE RESERVATION PORTION'). THE OFFER LESS EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE NET OFFER. THE OFFER AND THE NET OFFER WILL CONSTITUTE 26.00% AND 25.00% RESPECTIVELY, OF THE PRE AND POST OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

*Retail Discount of Rs 3/- per Equity Share to the Offer Price was offered to the Retail Individual Bidders and Employee Discount of Rs 3/- per Equity Share to the offer Price was offered to the eligible Employees bidding in the Employee Reservation Portion.

Price Band: Rs 87/- to Rs 90/- per Equity Share of face value of Rs 10/- each.
Employee Discount and Retail Discount; Rs 3/- per Equity Share on Offer Price.
The Floor Price is 8.7 times the face value and the Cap Price is 9.0 times the face value.
Bids can be made for a minimum of 150 Equity Shares and in multiples of 150 Equity Shares thereafter

Risks to Investors:

i. The two Book Running Lead Managers associated with the Offer have handled 19 public issues in the past three years out of which 6 issues closed below the issue price on listing date.

ii. There are no comparable listed companies in India engaged in the same line of business as the Company, hence comparison with industry peers are not applicable.

iii. Further, investors should take note of risk factor number 2 on page 17 of the Prospectus titled 'As a result of national security concerns, certain Information in relation to our business and operations is classified as 'secret and confidential' pursuant to which we have neither disclosed such information in the Prospectus nor provided such information to the BRLMs and other Intermediaries and advisors involved in this Offer',

BID/OFFER
BID/OFFER OPENED ON MARCH 21, 2018 | BID/OFFER CLOSED ON MARCH 23, 2018

The Offer received 45,712 applications for 58,365,300 Equity Shares (prior to technical rejections) resulting in 1.20 times subscription. The Details of the applications received in the issue from various categories are as under (prior to technical rejections).

Final Demand
A summary of ihe final demand as at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the BSE on March 23,2018.

A. Allotment to Retail Individual Bidders (after tethnical rejections) (including ASBA Application)

The Basis oF Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of ?90 per Equily Share, was finalized in consultation with the BSE. This category has been subscribed to the extent of 0.64 times (after considering the unsubscribed portion of 531.003 equity shares o( Employee Category). The total number of Equity Shares Allotted in Retail Portion is 10,636,150 Equily Shares to 43,300 successful Retail Individual Bidders The category-wise details of the Basis or Allotmentare as under

B. Allotment to Non-lnstitutional Bidders (After Technical Rejections)

The Basis of Allotment to the Non-institutional Bidders, who have bid at the Issue Price of Rs 90/- per Equity Share or above, was finalized in consultation with the BSE. Tha Non-Institutional Portion has been subscribed to the extant of 0.11 times (after considering the unsubscribed portion of 227,572 equity shares of Employee Category]. Tho total number of Equity Shares Molted in this category is 787,300 Equity Shares to 19 successful Mon-lnstitu1ional Bidders. The category-wise details of the Basis of Allotment are as under:

C. Allotment to Eligible Employees

The Basis of Allotment to the Eligible Employees, who have bid at the Offer Price of Rs 90 per Equity Share or above, was finalized in consultation with the BSE. The Eligible Employees Portion has been subscribed to the extent of 0.19 times. The total number of Equity Shares Allotted in this category is 356,250 Equity Shanes to 416 successful Bidders. The category wise details of the Basis of Allotment are as under:

D. Allotment to QIBs (Excluding Anchor Investors)

Allotment to QIBs who have Bid at the Offer Price of Rs 90/- per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 1.15 times of QIB Portion (after considering the spill-over of 12,645,165 Equity Shares from Employee, Retail & Nil Category). As per the SEBIICDR Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i e.1,836,410 Equity Shares (including spilled over) and othen QIBs, excluding Mutual Funds were Allotted the remaining available Equity Shares i.e. 34,891,790 Equity Shares (including spilled over) on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 36,728,200 Equity Shares which were allotted to 14 Successful QlB Bidders. The calegory-wise details of the Basis of Allotment are as under:

The IPO Committee of the Company on March 31st, 2018 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-intimations are being dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblccking of funds, transfer to Pubic Offer Account have been issued an March 31st, 2018 and payment to non-Syndicate brokers have been issued on April 3th, 2018. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on April 2nd, 2018 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned The Comapny has recived listing and trading approvals from NSE and BSE and the trading will commence on April 4th, 2018.

All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus,

INVESTORS PLEASE NOTE

The details of the allotment made have been hosted on the website of the Registrar to the Offer, Alankit Assignments Limited at https://alankit.com . All future correspondence in this regard may kindly be addressed to the Registrar to the issue quoling full name of the first/sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity shares applied for, the name and address of theDesignated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgement Slip received from the Designated Intermediary at the address of Registrar.

ALANKIT ASSIGNMENTS LIMITED
Address: 205 - 208, Anarkali Complex, Jhandewalan Extention, New Delhi, 110 055, India.
Telephone: +91 11 4254 1234. Facsimile: +91 11 4154 3474, Email: midhani_ipo@alankit.com ; Website: www.alankit.com
Investor Grievance ID: midhani_igr@alankit.com : Contact Person: Pankaj Goenk/Bojimon; SEBI Registration Number: INR000002532

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROS PECTS OF MISHRA DHATU LIMITED