- Issue Open: 26-Nov-10
- Issue Close: 01-Dec-10
- Issue Size: Rs. 1142 - Rs. 1260 Crore
- Face Value: Rs. 10 / Equity Share
- Issue Price: Rs. 340 - Rs. 375 Per Equity Share
- Minimum Quantity: 17 Shares (Rs. 6375 with 1 Lot)
- Maximum Quantity: 527 Shares (Rs. 197625 with 31 Lot)
- Listing At: BSE, NSE
Maximum Subscription Amount for Retail Investor: Rs. 200000
Manganese Ore India Limited (MOIL) IPO Grading / Rating by CARE: IPO Grade 5/5. Means it has Strong Fundamentals.
A Miniratna PSU was originally set up in the year 1896 as Central Province Prospecting Syndicate which was later renamed as Central Provinces Manganese Ore Company Limited (CPMO), a British Company incorporated in the UK. In 1962, as a result of an agreement between the Government of India and CPMO, the assets of the latter were taken over by the Government and MOIL was formed with 51% capital held between the Govt. of India and the State Governments of Maharashtra and Madhya Pradesh and the balance 49% by CPMO. It was in 1977, the balance 49% shareholding was acquired from CPMO and MOIL became a 100% Government Company under the administrative control of the Ministry of Steel.
At present, MOIL operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh. All these mines are about a century old. Except 3, rest of the mines are worked through underground method. The Balaghat Mine is the largest mine of the Company. The mine has now reached a mining depth of 309 meters from the surface. Dongri Buzurg Mine located in the Bhandara district of Maharashtra is an opencast mine that produces manganese dioxide ore used by dry battery industry. This ore in the form of manganous oxide is used as micro-nutrient for cattle feed and fertilizers. MOIL fulfills about 50% of the total requirement of dioxide ore in India. At present, the annual production is around 1,093,363 tonnes which is expected to grow in the coming years. MOIL has set up Ferro Manganese Plant (10,000 TPY) and Electrolytic Manganese Dioxide (EMD) Plant (1000 TPY) as per its diversification plan for value addition to manganese ore. MOIL has also set up a Captive Power Plant and is further considering, expanding the capacity of ferro manganese plant and setting up a new Silico Manganese Plant by means of joint ventures entered into with Rashtriya Ispat Nigam Limited and Steel Authority of India Limited.
Registered Office : MOIL Bhavan, 1-A, Katol Road, Nagpur – 440 013, Maharashtra, India
Phone: +91 712-2806100/216
Fax: +91 712-2591661
Book Running Lead Manager(s)
1. Edelweiss Capital Limited
2. IDBI Capital Market Services Limited
3. J.P. Morgan India Private Limited
Registrar of Manganese Ore India Limited (MOIL)
Karvy Computershare Private Limited