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Friday, November 26, 2010

Manganese Ore India Ltd. IPO has received a welcoming response from investors with the issue getting subscribed 0.76 times on Day 1, with the larger part of the bids coming from the QIB Category which is fully subscribed on the opening day

The Retail Category has also received good response on Day 1 with bids being received 4116754 Equity Shares as against 11524800 Equity Shares reserved for the category, thus making the category bid 0.36 times, according to data available on NSE website

(Click here for Manganese Ore India IPO Bidding Status on First Day)

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 is the largest producer of manganese ore by volume in India

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