MOIL price band announced: Rs 340-375

MOIL Limited today announced the price band for its IPO as Rs 340-375. The issue opens on Friday the 26th of November and closes on Wednesday the 1st of December. The issue is by way of offer for sale and shares would be offered by the Government of India and the states of Maharashtra and Madhya Pradesh. The total size of offer is 3.36 cr shares. Retail investors and eligible employees would be offered a 5% discount and the same would be payable on allotment.

Retail limit now stands increased to Rs 2 lakhs and the benefit of better allocation would be available to them. The price brand at first glance looks attractive and would be discussed in detail in the article to be posted on the website on Thursday.

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