Manganese Ore India IPO opens from today - Indian IPO Blog

Friday, November 26, 2010

Manganese Ore India IPO opens from today

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. MOIL operate seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi)

MOIL IPO would consist of 33,600,000 Equity Shares of Rs.10/- each and would close for qualified institutional bidders on November 30 and for other investors on Wednesday, December 01, 2010

The IPO has been rated an IPO Grade 5/5 by credit rating agency CARE. This means as per CARE, the company has 'Strong Fundamentals'. CARE assigns IPO grading on a scale of IPO Grade 5 to IPO Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals

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