Manganese Ore India Ltd (MOIL), the state-owned manganese-ore mining company headquartered in Nagpur, comes up with Offer for Sale (OFS) for institutional investors today. The OFS, which opened today for institutional investors, was subscribed 1% percent, as per NSE release.
The state-run miner Giant has received bids for 1,53,550 shares so far out of 10,655,024 shares on offer. The bids were very close to the floor price of Rs 365. The issue opens for retail investors tomorrow, 25 January, 2017. 20% of the issue is reserved for retail investors.
MOIL shares recovered some of the early morning losses and were trading at Rs 372.7, down 2.61%. The government currently holds 75.58% in MOIL.
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