Manganese Ore India Limited (MOIL), which is initially give public offer of 33,600,000 equity shares of Rs10 each for sale on November 26 will announce the price band on November 23.
The price band and the minimum bid lot will be decided on November 23 by the company, which would be advertised two working days prior to the opening date, MOIL CMD K J Singh told reporters here today.
He said the offer comprises a net offer to the public of 32,928,000 equity shares and 6,72,000 equity shares reserved for subscription by eligible employees.
The offer will close on November 30 for qualified institutional buyers and on December 1 for retail and non-institutional bidders.Disinvestment Secretary of the Government of India Sumit Bose said MOIL will be the fifth company during the current fiscal to offer IPO and 50th company to be listed in the stock market.
This year the government has so far raised Rs 21,000 crores from four earlier IPOs, including Rs 15,000 crores from Coal India.
There are 276 public sector undertakings but all are not worth disinvestments. Therefore, only those companies cleared by the Union Cabinet will go for disinvestments.Shipping Corporation, Steel Authority and ONGC are other companies to complete formalities for IPOs before the end of the current financial year, Bose added.
No comments:
Post a Comment