The Government had decided to launch the IPO of Manganese Ore India Ltd (MOIL) by end-November, as SAIL gets ready to place more shares in the market.
Speaking at a ceremony for felicitating Commonwealth Games medal winners, the Steel Secretary, Pradeep Kumar Misra, said on Monday that the roadshow for Manganese Ore's IPO would begin by mid-October.
MOIL's pre-roadshow for the IPO will begin around October 20, with the final roadshow happening in the middle of November. The IPO could be launched in November-December, Mr Misra said.
Manganese Ore had filed draft papers for its IPO last month with the 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.
According to the proposal, the Central Government will sell a 10% stake, while Madhya Pradesh and Maharashtra governments will dilute 5% each in MOIL. Currently, the Centre holds 81.57% in the company, while Maharashtra and Madhya Pradesh have 9.62% and 8.81% stake, respectively.
Speaking at a ceremony for felicitating Commonwealth Games medal winners, the Steel Secretary, Pradeep Kumar Misra, said on Monday that the roadshow for Manganese Ore's IPO would begin by mid-October.
MOIL's pre-roadshow for the IPO will begin around October 20, with the final roadshow happening in the middle of November. The IPO could be launched in November-December, Mr Misra said.
Manganese Ore had filed draft papers for its IPO last month with the 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.
According to the proposal, the Central Government will sell a 10% stake, while Madhya Pradesh and Maharashtra governments will dilute 5% each in MOIL. Currently, the Centre holds 81.57% in the company, while Maharashtra and Madhya Pradesh have 9.62% and 8.81% stake, respectively.
Is this one good ? It has a rating of 5, same as COAL IPO.
