MOIL, whose IPO will hit the market on November 26, has drawn-up plans to invest over Rs 900 crore in capacity expansion and forward integration activities in the next five years. The company plans to expand Manganese ore mining capacity from 1.1 million tonnes to 1.5 million tonnes by 2015-16
The company, formerly known as Manganese Ore India Ltd, is also getting into ferro alloys manufacturing as a part of its forward integration strategy and has entered into joint venture agreements with SAIL and RINL in which it will be investing Rs 150 crore. MOIL's Initial Public Offer, in which the state is diluting a 20 per cent stake by selling 3.36 crore shares, will be hitting the market on November 26 and a panel of ministers will be deciding the price-band on November 23.crackcrack
Company Name | CMP |
---|---|
Coal India | 467.50 |
NMDC | 267.65 |
GMDC | 410.90 |
Sandur Manganese | 520.10 |
MOIL | 440.25 |
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