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In an exchange filing, Mishra Dhatu Nigam said that it has issued 1000 commercial papers of face value of Rs 5 lakh each.
The tenure of papers is 90 days and the papers are rated A1+ by credit rating agency CRISIL.
MIDHANI is one of the leading manufacturers of super alloys, titanium & titanium alloys, special purpose steels and other special alloys. The Government of India held 74% stake in the company as of 31 March 2021.
On a consolidated basis, the company's net profit fell 1% to Rs 60.13 crore on a 9% decline in net sales to Rs 187.92 crore in Q3 FY21 over Q3 FY20.
Shares of MIDHANI fell 0.9% to Rs 192.25 on Friday.
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