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Wednesday, November 24, 2010

MOIL IPO Price Band Fixed at Rs 340-375

The government has fixed a price band of Rs 340-375 a share for MOIL IPO. This would raise up to Rs 1,238 crore through initial public offer of MOIL.

The Central government is diluting 10 per cent stake in MOIL which is country's largest manganese manufacturer. Madhya Pradesh and Maharashtra governments are othre shareholders who will sell 5 per cent each through the IPO that is opening on November 26 and close on December one.

MOIL IPO To Open on Nov. 26

For the half year ended September 30, the company's turnover was at Rs 635 crore as compared to Rs 430 crore in the first half of previous fiscal. Profit after tax for the first half of this year stood at Rs 330 crore against Rs 201 crore in the year-ago period.

We would soon publish IPO analysis and advice if you should buy IPO of MOIL. Stay tuned.

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