MOIL IPO price band fixed at Rs 340-375

The government has fixed a price band of Rs 340-375 a share for raising up to Rs 1,238 crore through initial sale of shares in MOIL Ltd. The initial public offer will consist of 33.6 million shares. The Centre government will dilute 10 per cent stake in the country's largest manganese manufacturer, while the Madhya Pradesh and Maharashtra governments will shed 5 per cent each through the public offer.crackcrack