Business   

MOIL fixes IPO price at Rs. 340-375

NEW DELHI: The Union Government on Tuesday fixed the price band of Manganese Ore India Ltd. (MOIL) IPO at Rs.340-375 a share

That will enable the Centre, Maharashtra and Madhya Pradesh governments to raise up to Rs.1,238 crore.

The Centre will dilute its stake in the country's largest manganese manufacturer by 10 per cent, while Madhya Pradesh and Maharashtra governments will shed 5 per cent holdings each.

Employees of MOIL and retail investors will be offered a 5 per cent discount. The IPO opens on November 26 and closes on December 1.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

M&M acquires 70 % in Ssangyong for $463 m
SEBI panel suggests tougher rules for new bourses
Foreign investors hold 30 % in BSE
MOIL fixes IPO price at Rs. 340-375
Rupee drops 17 paise
Sensex slumps 265 points
Coal output target may have to be pruned further
Lower tea output likely
Shriram's new initiatives for truckers
Virtualisation, cloud computing to drive IT services in future
Some progress in overseas ventures
Aegis Logistics to build oil terminal at Pipavav
Nokia partners Intuit
ICT spending to grow 10 % in 2011, says Gartner study
Exchange Rates
Bullion Rates

Copyright © 2010, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu