MOIL IPO to hit market 26 November

MOIL IPO to hit market 26 November

The massive and good response to Coal India and Power Grid Corporation which was a Diwali Gift from Government  of India by listing at a good premium and 5 percent discount After the huge response to the Initial Public Offering of Coal India and Power Grid Corporation,  the Government owned Manganese Ore India Ltd ( MOIL ) is hitting the capital market with its Initial Public Offering of  3.38 crore shares.  Government of India is divesting 10% and Madhya Pradesh and Maharashtra governments will divest 5 per cent stake each in the undertaking, totaling 20% equity of the company  The Government is raising Rs 1500 crores from the divestment.  

While 2 percent is reserved for employees, along with 5 percent discount and Rs 2 cap for retail investors, the retail  investors have a good year ahead.

Shiping Corporation of India is entering the market with its FPO on December 6, 2010.

Watch this column for the price band of MOIL.