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.
In addition to high, medium and low grade manganese ore, company produces manganese dioxide and chemical grade manganese ore. The major competitive strengths of the company are:
1. Largest producer of manganese ore in India with access to significant reserves;
2. Well positioned to capture the growth potential of the Indian steel industry;
3. Track record of growth and efficient operations;
4. Strategic location of the mines and
5. Strong capabilities for exploration, mine planning and research development.
Company Promoters:
The promoters of the company is the President of India, acting through the MoS, Government of India (GoI). Present paid-up Equity Share capital of GoI - 81.6% Post-Offer paid-up Equity Share capital of GoI - 71.6
Objects of the Issue:
The objects of the Offer are:
1. To carry out the disinvestment of 33,600,000 Equity Shares by the Selling Shareholders and
2. To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
Issue Detail:
»» Issue Open: Nov 26, 2010 - Dec 01, 2010
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 33,600,000 Equity Shares of Rs. 10
»» Issue Size: Rs. 1,142.40 - 1,260.00 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 340 - Rs. 375 Per Equity Share
»» Listing At: BSE, NSE
Maximum Subscription Amount for Retail Investor: Rs. 2,00,000
CARE has assigned an IPO Grade 5 to MOIL Limited IPO. This means as per CARE company has 'Strong fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating company with strong fundamentals.
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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.
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