The QIB portion was subscribed 1.03 times, whereas the Non Institutional portion was subscribed 0.88 times and retail portion was subscribed 0.36 times.
According to the NSE website, the initial public offering of MOIL Ltd is subscribed by 2.37 times, As per the data available with the National Stock Exchange, The issue got total bids for more than 79465786 shares as next to 33600000 shares on offer,.
The QIB portion was subscribed 1.03 times, whereas the Non Institutional portion was subscribed 0.88 times and retail portion was subscribed 0.36 times.
Retail investors will obtain a 5% discount on the issue price. Retail investors can also put in Rs. 2 lakh as contrasted to the prior limit of Rs. 1 lakh.
MOIL is investing Rs. 7.68bn in capacity expansion as it looks to ramp up manganese output to 1.5 million tons per annum by 2015-16 from the present 1.1 million tons.
MOIL is looking to get mining properties in South Africa, Congo and Turkey, as the demand for manganese by Indian steel producers is expected to climb in the near future, K.J. Singh, chairman and managing director, MOIL was quoted as saying.
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