MOIL (earlier known as Manganese Ore India) ended with 24% premium to its issue price on NSE. It closed at Rs 464.20 up 23.79% from its issue price of Rs 375 a share, after witnessing an intraday high of Rs 590 and low of Rs 456 on the National Stock Exchange. The share opened at Rs 565 on both exchanges.
On Bombay Stock Exchange, it has hit a high of Rs 591.05 and low of Rs 458.50, before ending at Rs 466.50. Traded volume on exchanges was 3.15 crore shares.
MOIL is India’s largest manganese ore producer and has 50% share in domestic manganese production. It is one of the lowest cost producers of manganese ore in the world.
The company's initial public offering (IPO) received tremendous response from all investors' categories and was subscribed 56.43 times. The price band for the issue was fixed at Rs 340-375.
Reserved portion of QIBs was subscribed 49.16 times. Non-institutional and retail investors' portion subscribed 143.30 times and 32.86 times, respectively. Employees' portion was undersubscribed.
MOIL ends with 24% premium at Rs 464.20
Raj (Finance Manager) (32 Points)
16 December 2010
CAclubindia
