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.
During the Financial year 2010-11, MOIL got listed on 15th December, 2010 on National Stock Exchange and Bombay Stock Exchange.
At present, MOIL operates 11 mines, seven located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh. All these mines are about a century old. Except 4, rest of the mines are worked through underground method. The Balaghat Mine is the largest mine of the Company. The mine has now reached a mining depth of about 383 meters from the surface. Dongri Buzurg Mine located in the Bhandara district of Maharashtra is an opencast mine that produces manganese dioxide ore used by dry battery industry. This ore in the form of manganous oxide is used as micro-nutrient for cattle feed and fertilizers. MOIL fulfils about 50% of the total requirement of dioxide ore in India. At present, the annual production is around 1.1 million tonne which is expected to grow in the coming years.
MOIL produces and sells different grades of Manganese Ore.
For more information about the company, click https://www.moil.nic.in/
Objects of the Buyback :
The Buyback aims to :
i) Reduce outstanding number of equity shares and consequently increase earnings per share and book value per share.
ii) Effectively utilize available cash; and
iii) Improve key return ratios like return on equity capital.
MOIL Buyback Detail
Issue Period : Jan 28, 2022 to Feb 10, 2022
Security Name MOIL Limited
Issue Type Tender Offer
Issue Size (Shares) 3.38 Crores
Issue Size (Amount) Rs 693.77 Crores
Buyback Price Rs 205 per share
Face Value Rs 10 per share
Listing At BSE, NSE
MOIL Buyback Issue Timetable
Offer Opens On Jan 28, 2022
Offer Closes On Feb 10, 2022
Record Date Dec 31, 2021
Last Date for receipt of Tender Forms Feb 12, 2022
Finalisation of Buyback Acceptance Feb 18, 2022
Last Date for settlment of bids Feb 21, 2022
Last Date for Extinguishment of Shares Feb 28, 2022
Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders :
123 Equity Shares out of every 625 shares held on the record date.
General Category for all other Eligible Shareholders
99 Equity Shares out of every 728 shares held on the record date.:
Registered Office of MOIL Limited
MOIL Bhawan, 1A, Katol Road,
Nagpur – 440013, Maharashtra
Email: [email protected]
MOIL Buyback Lead Manager
IDBI Capital Market Services Limited
IDBI Capital Markets & Securities Limited
MOIL Buyback Registrar
Bigshare Services Pvt Ltd