Image by theparadigmshifter via FlickrThe offer will close on November 30 for the Qualified Institutional Buyers (QIBs) and on December 1, 2010 for Retail and Non-Institutional Bidders
Public sector company Manganese Ore India Limited will come out with an initial public offering of 33,600,000 equity shares of Rs10 each from today.
The offer will close on November 30 for the Qualified Institutional Buyers (QIBs) and on December 1, 2010 for Retail and Non-Institutional Bidders (including eligible employees bidding under the employee reservation portion) respectively.
Out of the total shares on offer, the Centre's shares will account for 10%. Madhya Pradesh and Maharashtra governments will divest 5% stake each in the PSU.
MOIL plans to raise around Rs. 15bn, according to reports. In the MOIL IPO, 2% shares will be reserved for its over 6,500 employees.
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