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MOIL to list on 15th Dec’10

This article was posted on Dec 4, 2010 and is filed under IPO Views

MOIL(Manganese Ore India) is likely to list on 15th of Dec’10 on NSE and BSE. The 3.36 crore equity shares’ initial public offering (IPO) received tremendous response from all investors’ categories and was subscribed 56.43 times. The price band for the issue was fixed at Rs 340-375.

Reserved portion of QIBs was subscribed 49.16 times. Non-institutional and retail investors’ portion subscribed 143.30 times and 32.86 times, respectively. Employees’ portion was under-subscribed.

MOIL is India’s largest manganese ore producer and has 50% share in domestic manganese production. It is one of the lowest cost producers of manganese ore in the world.

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