Manganese Ore India IPO Hit Markets Very Soon

Manganese Ore India IPO Hit Markets Very SoonMOIL (Manganese Ore India), ‘s all ready to hit markets very soon. The firm is planning to increase Rs 1,000 cr through 20per cent dilution, that consists of 10per cent offer available for sale by central govt, 5per cent each by Maharashtra and some other governments.

The initial public offer will hit capital market by the last week of Nov, the JK Singh CMD of the firm said The price band hasn’t been determined yet. The firm’s manganese ore reserve are at 69 mn tonne. Although worldwide costs for manganese iron ore are USD 8 dmtu, Indian costs are at USD 9-9.5 dmtu.

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