Analysis and Insights into the world of IPOs and investing in India

Thursday, December 2, 2010

Manganese Ore India IPO finally overbid by 56.43 times

Manganese Ore India IPO has been finally oversubscribed 56.43 times with extraordinary subscription figures in all categories of investors. The IPO has received bids for 707771795 Equity Shares in the HNI Category as against 4939200 Equity Shares reserved for the category, thus making the HNI Category bid by a gigantic 143.2968 times.

The response from the QIB and Retail Categories has also been overwhelming, with the QIB Category getting bid 49.16 times, while the Retail Category receiving bids for 378678774 Equity Shares as against 11524800 Equity Shares reserved for the category, thus taking the oversubscription figure in the Retail Category to 32.86 times

MOIL Limited (Manganese Ore India Limited) is a 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 Ltd. IPO had opened for subscription from Friday, November 26, 2010 and was assigned an IPO Grade 5/5 by credit rating agency CARE
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