IPO Manganese Ore (India) Limited (MOIL) to open November last week ?
Manganese Ore (India) Limited (MOIL) the mini ratna PSU from government stable is all set to enter the capital market by an Initial Public Offering (IPO) by end November or December first week. The company is entering the capital market with an offer of 3.36 crore shares of the face value of Rs 10/-. While the premium would be decided by a book building route, the issue size will be 20 per cent stake sale from government stable.
The share pattern of this unlisted company as on date is Union government 81.57% , Maharashtra Government 9.62% and Madhya Pradesh Government 8.81% stake. After the IPO, Centre's equity in MOIL will come down to 71.57 %, while that of the Maharashtra government will reduce to 4.62%. Madhya Pradesh government will be left with 3.81% share in the company.