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MOIL buyback opens tomorrow; check details here

The total buyback size is Rs 693.775 crore. The number of shares will not exceed 3,38,42,668, and a total of 50,76,400 shares will be reserved for retail category.

January 27, 2022 / 09:26 PM IST
Representative image

Representative image

The buyback of 3.38 crore equity shares of state-owned mining major MOIL Ltd, as approved by the company's shareholders last month, will begin tomorrow, January 28, 2022. Here are the key details.

The issue closes on Thursday, February 10, 2022. The buyback type was stated as tender offer.

The total buyback size is Rs 693.775 crore. The number of shares will not exceed 3,38,42,668, and a total of 50,76,400 shares will be reserved for retail category.

The face value was stated as Rs 10, whereas, the offer price per equity share will be Rs 205. The current market price per equity share is Rs 170 per share.

Notably, the buyback proposal was approved unanimously by the company's board of directors on November 10, 2021. The shareholders gave their assent on December 20.

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MOIL, under the Ministry of Steel, is country's largest manganese ore mining company contributing about 40 percent to the total production of the miner in the country.

On Thursday, shares of MOIL ended 0.67 percent lower at Rs 169.80 apiece on the BSE. The stock had hit a 52-week high of Rs 208 on June 22, 2021 and 52-week low of Rs 133.7 on January 28, 2021.



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Moneycontrol News
first published: Jan 27, 2022 09:26 pm
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