IPO Details - MOIL Limited

MOIL Limited (Manganese Ore India Limited) is India based producer of manganese ore, primarily used to make ferro-alloys for steel production. MOIL is a 'Mini Ratna' PSU.
MOIL Limited is the largest producer of manganese ore by volume in India. MOIL operate seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi) to produce more then 1,093,363 tonnes of manganese ore.

Issue Detail:
Issue Open: Nov 26, 2010 - Dec 01, 2010
Issue Size: 33,600,000 Equity Shares of Rs. 10
Issue Price: Rs. 340 - Rs. 375 Per Equity Share
Maximum Subscription Amount for Retail Investor: Rs. 2,00,000

CARE has assigned an IPO Grade 5 to MOIL Limited IPO. This means as per CARE company has 'Strong fundamentals'.

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MOIL at Rs. 413 by using the DCF method (Cost of capital: 13% and Terminal Growth: 5%). As retail investors will get a discount of 5% on the issue price, the effective upper and lower price band for retail investors would be Rs. 323 to Rs. 356.25. Even if the company sets its issue price at upper price band, the issue offers an upside potential of 16% and we recommend “Subscribe” to the issue.

Capital Market Rating => 55/100

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Annual Information Return (AIR) of 'high value financial transactions' is required to be furnished under section 285BA of the Income-tax Act, 1961 by 'specified persons' in respect of 'specified transactions' registered or recorded by them during the financial year.

Point 5 - A Company issuing shares through public or rights issue.
=> Receipt from any person of an amount of one lakh rupees or more for acquiring shares issued by the Company.
=> The amount actually received from the transacting party and not the amount relating to allotment is to be reported.

http://www.tin-nsdl.com/anninforeturn.asp

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Will applying more than 1 lakh will create IT problem lateron? Your view.

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Go for it.

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Originally Posted by Anupam007

Will applying more than 1 lakh will create IT problem lateron? Your view.

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It will create Income Tax issue only when you make short term gain, after selling IPO shares and would not show that in your IT return.

Can I apply for full 1,00,000/- or is there any lot system in this IPO?

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Originally Posted by Harish Rawat

Can I apply for full 1,00,000/- or is there any lot system in this IPO?

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Market Lot: 17 Shares
Minimum Order Quantity: 17 Shares
Issue Price: Rs. 340 - Rs. 375 Per Equity Share

So if you apply for the highest price band -
Minimum Application = 375 * 17 = Rs.6375
Maximum Application = 375 * 527 = Rs. 197625

1 Lach Application = 375 * 255 = Rs. 95625
So you can apply for Rs.95635.

MOIL IPO oversubscribed 2.37 times on Day 2

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MOIL IPO subscribed 53.84 times
Retail investors may get fewer shares in MOIL IPO

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Chances to get more shares to retail investors are less.

MOIL IPO priced at Rs 375/share, to list on Dec 15.

MOIL allotment is out. Check here - http://mis.karvycomputershare.com/ipo/

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Originally Posted by CONFUSED

MOIL allotment is out. Check here - http://mis.karvycomputershare.com/ipo/

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I had applied for 22 Lot (More than 1 Lakh) but get 1 lot. Who got the maximum? Any idea about listing price? Current grey market premium?

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Originally Posted by Rahul

I had applied for 22 Lot (More than 1 Lakh) but get 1 lot. Who got the maximum?

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I have not applied.

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Any idea about listing price?

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Offer Price + Grey Premium = 375 + 240 = 615

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Current grey market premium?

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Moil - 235-240(premium)

Can any one tell me, when moil will list in stock market?

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Originally Posted by Master

Can any one tell me, when moil will list in stock market?

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Manganese Ore India Limited (MOIL) has informed the share market (BSE) that the shares of its recent IPO will list on 15th Dec 2010.