MOIL IPO gathering commendable response, bid 2.37 times till Day 2 - Indian IPO Blog

Monday, November 29, 2010

MOIL IPO gathering commendable response, bid 2.37 times till Day 2

Manganese Ore India Ltd. IPO has been building upon its subscription figures with the Day 2 subscription figure standing at 2.37 times on an overall basis. The IPO has been receiving an appreciable response from all categories of investors, including Retail Category which is bid 2.80 times till Day 2

MOIL IPO would remain open for subscription till November 30, 2010 for QIB Category and December 01, 2010 for other categories. MOIL IPO subscription figures are expected to mount at the end of Day 3, i.e. November 30, 2010, which is the closing date for the QIB Investors

MOIL (Manganese Ore India Limited) is India based producer of manganese ore, primarily used to make ferro-alloys for steel production. MOIL is a 'Mini Ratna' PSU, owned by Government of India and under the administrative control of the Ministry of Steel. 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)

Earlier, the IPO had received an IPO Grade 5/5 from credit rating agency CARE
(Click here for more on Manganese Ore India IPO Rating)

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