Manganese Ore India Ltd (MOIL) IPO Expected In November 2010
Manganese Ore had filed draft papers for its IPO last month with SEBI. The four-day IPO of MOIL is likely to begin on November 26. Edelweiss Capital, IDBI Capital and JP Morgan are the book running lead managers to the issue, sources said.
- (1888PressRelease) October 27, 2010 - The recent IPO of Coal India Limited was a miss for many. Many who wanted to opt for it didn't have a demat account ready for subscription. The next good PSU IPO is expected soon in November. This is the IPO of Manganese Ore India Ltd (MOIL).
Mr. C B Bhave, Chairman of SEBI (Securities and Exchange Board of India), announced the increment of retail investment limit by Rs 1 Lakh in any public issue on Monday, 25th October 2010. Earlier retail investment limit in a public issue was Rs 1 Lakh which is now increased to Rs. 2 Lacs.
This increment in retail investment limit is a positive sign, as Power Grid FPO is expected to open on 9th Nov 2010 till 12th Nov 2010 with following issues of Shipping Corporation of India and Manganese Ore India Ltd (MOIL) IPO and Indian Oil IPO in January 2011.
Manganese Ore had filed draft papers for its IPO last month with SEBI. The four-day IPO of MOIL is likely to begin on November 26. Edelweiss Capital, IDBI Capital and JP Morgan are the book running lead managers to the issue, sources said.
Currently, the Central Government holds 81.57% in MOIL, while Maharashtra and Madhya Pradesh have 9.62% and 8.81% stake, the Central Government is expected to dilute 10% while state governments are expected to dilute 5% each.
If you wish to subscribe to this issue, a demat account is mandatory. Basic documentation required to open a demat account includes a PAN card, residence proof and ID proof. For further details on opening a demat account, visit http://www.demat9.in/
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