|Buyback Dates||26/12/2019 - 08/01/2020|
|Buyback Offer||Rs.308.28 crores|
|Buyback Offer Size||7.87%|
|Number of Shares||202,81,009|
|Buyback Type||Tender Offer|
MOIL is a Schedule “A” Miniratna Category-I Company. It was originally incorporated as Manganese Ore (India) Limited in the year 1962. Subsequently, name of the Company was changed from Manganese Ore (India) Limited to MOIL Limited during the financial year 2010-11.
MOIL was originally set up in the year 1896 as Central Province Prospecting Syndicate which was later renamed as Central Provinces Manganese Ore Company Limited (CPMO), a British Company incorporated in the UK. In 1962, as a result of an agreement between the Government of India and CPMO, the assets of the latter were taken over by the Government and MOIL was formed with 51% capital held between the Govt. of India and the State Governments of Maharashtra and Madhya Pradesh and the balance 49% by CPMO. It was in 1977, the balance 49% shareholding was acquired from CPMO and MOIL became a 100% Government Company under the administrative control of the Ministry of Steel.
Incorporated in 1962, MOIL formerly know as Manganese Ore (India) Limited is a mining company and sell different grades of Manganese Ore. MOIL was originally setup in 1986 by CPMO (Central Provinces Manganese Ore Company Limited) - British Company. In 1977, Indian gov acquired 100% stake in MOIL. Company was listed in NSE/BSE in 2011. At present company have 11 mines.
MOIL has set up a plant based on indigenous technology to manufacture 1,000 MT per annum capacity of Electrolytic Manganese Dioxide (EMD). This product is used for the manufacture of dry battery cells. EMD produced by the Company is of good quality and well accepted by the market. A Ferro manganese plant having a capacity of 10,000 MT per annum was also set up in 1998 by MOIL for value addition.
MOIL Ltd (BSE:533286 | NSE:MOIL) board has approved a proposal for purchase of up to 2.02 Cr shares at Rs 152 per share, aggregating Rs 308.27 Cr (Buyback Offer Size) that is 7.87% of total paid equity share capital.
The Record Date for MOIL Buyback is 27/11/2019.
The MOIL Buyback will open on 26/12/2019 and closes on 08/01/2020.
The Buyback price of MOIL is Rs.152.
The Buyback Type of MOIL is Tender Offer.