Midfield Industries - burnt your money

Incorporated in 1991, Midfield Industries Ltd is a leading manufacturers of steel strapping systems and providers of packaging solutions. Midfield provide packaging consumables like high tensile steel strapping in various dimensions and strengths, Different Seals for different applications, Collated Nails & Corner boards being used for general and the end of line packaging of goods by varied industries. Currently, the company caters to companies across wide spectrum of industries like steel, aluminium, glass, copper, paper, automobile, white goods and refractory etc.

Steel Strappings of Midfield are of two grades, Supreme and Mega Supreme. Supreme Steel Strapping is made of low carbon, low manganese cold rolled steel. Mega Supreme Steel Strapping is made of medium carbon, high-manganese cold rolled steel. Supreme is designed for low duty packaging applications, where as, Mega Supreme is designed for heavy-duty applications.

Company's Promoters are:

1. Mr. M. Madhu Mohan Reddy, 51, years, is a Bachelor of Commerce from Sri Venkateswara University, Tirupati and Master in Business Administration from Andhra University.
2. Mrs. M Supraja, 49 years, is wife of Mr. M Madhu Mohan Reddy.

Now:

Market Cap: Rs. 15.42 Crores

Current Price: Rs. 12.05

from 133 to 12.... burnt your money.....

company stopped providing qtr results after mar 2012...

- Promoters have pledged 74.44% of their holding

Issue Detail:

  »»  Issue Open: Jul 19, 2010 - Jul 21, 2010
  »»  Issue Type: 100% Book Built Issue IPO
  »»  Issue Size: 4,500,000 Equity Shares of Rs. 10
  »»  Issue Size: Rs. 59.85 Crore
  »»  Face Value: Rs. 10 Per Equity Share
  »»  Issue Price: Rs. 126 - Rs. 133 Per Equity Share
  »»  Market Lot: 50 Shares
  »»  Minimum Order Quantity: 50 Shares
  »»  Listing At: BSE

Listing Day Trading Information

BSE Issue Price: Rs. 133.00 Open: Rs. 159.40 Low: Rs. 150.00 High: Rs. 174.90 Last Trade: Rs. 163.05 Volume: 23,854,228