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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.
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