Fw: MOIL India's Largest Producer of Manganese Ore

 

MOIL LIMITED [Manganese Ore (India) Limited]

Equity Shares offered through this Offer 33,600,000 Equity Shares Of which Employee Reservation Portion 672,000 Equity Shares available for allocation on a proportionate basis Net Offer to public 32,928,000 Equity Shares Of which 1. QIB Portion At least 16,464,000 Equity Shares available for allocation on a proportionate basis 2. Non-Institutional Portion Not less than 4,939,200 Equity Shares available for allocation on a proportionate basis 3. Retail Portion Not less than 11,524,800 Equity Shares available for allocation on a proportionate basis   Pre and Post Offer Equity Shares   Equity Shares outstanding prior to the Offer 168,000,000 Equity Shares Equity Shares outstanding after the Offer 168,000,000 Equity Shares   Use of Offer Proceeds The objects of the Offer are to carry out the disinvestment of 33,600,000 Equity Shares by the Selling Shareholders and to achieve the benefits of listing the Equity Shares on the Stock Exchanges. The Company will not receive any proceeds from the Offer and all proceeds shall go to the Selling Shareholders.   BID/OFFER PROGRAMME Offer Opens 26th November 2010 Offer Closes (QIBs) 30th November 2010 Offer Closes (Retail and Non-Institutional Bidders) 1st December 2010   PRICE BAND 340 to 375 Minimum Bid quantity 17 Equity shares and in multiples of 17 Equity shares thereafter Maximum Bid quantity 527 Equity shares for retail and eligible employees.

About MOIL:

MOIL operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh. The company's reserves of manganese ore are reported to be around 69 million tonnes. As on September 30, 2010, the company's reported Cash and Bank balance is around Rs 1700 Crores. The company was granted the Mini-Ratna public sector company status in 2008. The company was the largest producer of manganese ore by volume in India in Fiscal 2008. Net sales Rs.9693.95 million and PAT Rs.4656.20 million in FY 2010, EPS of 27.72 for FY 2010.