MOIL IPO
Issue OpensNovember 26, 2010
Issue ClosesDecember 01, 2010
November 30, 2010 (for QIB Bidders)
Post Modification PeriodDecember 02, 2010
Fresh Issue Size33.60 Lakh Equity Shares of `10/- each
Issue Size at Lower Band` 114.24 Crore
Issue Size at Upper Band` 126.00 Crore
Price Band`340 – `375
Market Lot17 Equity Shares and Multiple
MOIL is currently a market leader in domestic manganese ore market commanding around 50% of the domestic market share. If a look at financials is taken, the company stands on Excellent Fundamental Grounds, which is also backed by the IPO Grade awarded to it by CARE. Company was conferred the Mini Ratna status in 2008, which provides it with certain operational and financial autonomy. In particular, it is not required to obtain the approval of the government to incur capital expenditure for the implementation of certain mechanization programs and purchase of equipment. The Company is worthwhile to be kept in Portfolio for long term and can also be applied for listing gains of almost 5-10%, if the market remains supportive.
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