Manganese Ore India Limited (MOIL) IPO : CRISIL gives 5 out of 5

by khalid on 19/11/2010 · 0 comments

Manganese Ore India Limited (MOIL) IPO has got 5 out of 5 by CRISIL (rating agency) and this rating/grading is Strong for a manganese ore producing company. The grade 5 indicates that the fundamentals of the IPO are Strong compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offer (IPO) of 33,600,000 Equity Shares of Rs 10 each. The IPO is opening on 26th Nov 2010 and the shares will be available for subscription up to 1st Dec 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has not been fixed yet. MOIL Limited is a public sector undertaking (PSU) of the Indian Government. MOIL Limited is the largest producer of manganese ore by volume in India. MOIL operate seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi) to produce more then 1,093,363 tonnes of manganese ore. The company is a Miniratna company of Indian Government.

Issue Detail:-
Issue Open : 26th Nov 2010 – 1st Dec 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 33,600,000 Equity Shares of Rs 10 each
Issue Size : Rs. – Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. – Rs. Per Equity Share
Market Lot : — Shares
Minimum Bid Quantity : — Shares
Listing At : BSE, NSE

Book running lead managers to the issue are Edelweiss Capital Limited, IDBI Capital Market Services Limited and J.P. Morgan India Private Limited.

Registrar of the Issue : Karvy Computershare Private Limited, Hyderabad.

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