Facts about Manganese Ore India Ltd. (MOIL):

  1. MOIL operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.
  2. The company’s reserves of manganese ore are reported to be around 69 million tonnes.
  3. As on September 30, 2010, the company’s reported Cash and Bank balance is around Rs 1700 Crores.
  4. The company was granted the Mini-Ratna public sector company status in 2008.
  5. The company was the largest producer of manganese ore by volume in India in Fiscal 2008.
  6. Net sales Rs.9693.95 million and PAT Rs.4656.20 million in FY 2010, EPS of 27.72 for FY 2010.

A detailed report on MOIL prepared by India Infoline can be read here.

BID/OFFER PROGRAMME
Offer Opens 26th November 2010
Offer Closes (QIBs) 30th November 2010
Offer Closes (Retail and Non-Institutional Bidders) 1st December 2010
PRICE BAND 340 to 375
Minimum Bid quantity 17 Equity shares
and in multiples of 17 Equity shares thereafter
Maximum Bid quantity 527 Equity shares
for retail and eligible employees.

I think the offer is reasonably priced and hence one can invest in this IPO to make some money. Besides, its a good long term bet as well.

What do you think? Will investors make money by subscribing to MOIL IPO?