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Mar 21, 2018 11:31 AM IST | Source: CNBC-TV18

MIDHANI IPO opens today; government aims to raise Rs 438cr

State-owned steel company Mishra Dhatu Nigam or MIDHANI opens its initial public offering (IPO) for subscription today. The government aims to raise Rs 438 crore from this IPO.

CNBC TV18 @moneycontrolcom

State-owned steel company Mishra Dhatu Nigam or MIDHANI opens its initial public offering (IPO) for subscription today. The government aims to raise Rs 438 crore from this IPO.

In an interview to CNBC-TV18, Dinesh Lekhi, CMD of MIDHANI spoke about the issue and gave his outlook for the future.

Lekhi said that the IPO proceeds will go to the Government of India.

Talking about business, he said the topline growth should be more than 10 percent going ahead because we are setting up two new facilities at Rohtak and Nellore.

He further said that we expect defence and space sectors to grow at a fast rate which will aid our growth.

According to him, Rohtak facility should come on stream by end of FY19.

On expansion plan, he said we will fund expansion via internal accruals and may have to take some debt.

Watch accompanying video for more details.
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