MOIL Buyback 2019

MOIL Buyback 2019MOIL Buyback description - 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.

MOIL Buyback details
Buyback Dates To be announced
Buyback Price  INR152 per share
Buyback Offer Amount 202,81,009 shares (INR308.28 crore)
Offer Size (in %) 7.87% of outstanding shares
Offer Type Tender
Promoter Participation Yes
Share Capital + Reserves INR3,082.71 crore
Small Shareholder Reservation 15%
Face Value  INR10 per share
MOIL Buyback Timeline

Particulars

Date

Board Meeting for Buyback Proposal 14 November 2019
Buyback Approval Date 14 November 2019
Public Announcement of Buyback 18 November 2019
Buyback Record Date 27 November 2019
Buyback Opening Date To be announced
Buyback Closing Date To be announced
Cut-off Date to receive completed tender forms by Registrar To be announced
Verification Date by the Registrar To be announced
Return of unaccepted shares by Registrar To be announced
Extinguishment of accepted shares To be announced
Registrar of MOIL Buyback 2019

Bigshare Services Private Limited 
1st Floor, Bharat Tin Works Building, Opp Vasant Oasis
Makwana Road, Marol, Andheri (E)
Mumbai - 400059

Phone: +91 22 6263 8200
Fax: 
+91 22 6263 8280
Email:
 [email protected]
Website: www.bigshareonline.com

Manager of MOIL Buyback 2019

IDBI Capital Markets & Securities Limited
6th floor, lDBI Tower
WTC Complex, Cuffe Parade
Mumbai 400 005

Phone: +91 22 22171700
Email: [email protected]
Website: www.idbicapital.com

MOIL Shareholding Pattern
Shareholder

% shareholding

Promoter

65.69

Institutions

17.28

Individuals

14.58

MOIL Buyback 2019 Documents 

Public Announcement 

Draft Letter of Offer 

Letter of Offer 

MOIL Buyback Ratio (Entitlement Ratio)
Shareholder Category Buyback Ratio/Entitlement Ratio Buyback Ratio (in %)
Reserved Category (Shares worth up to INR2,00,000 as on record date) To be updated To be updated
General Category (Other shareholders) To be updated To be updated
Potential profit from MOIL Buyback

The following table outlines how much you can gain at different acceptance ratios. The calculations are based on the closing price of INR147.35 per share as of 14 November 2019 and on the assumption that a maximum amount of INR2,00,000 is invested in buying shares.

Actual entitlement ratio will be disclosed by the company at a later stage.

Acceptance ratio 20% 30% 40% 50%
Maximum shares in buyback 1,357 1,357 1,357 1,357
Investment amount 1,99,954 1,99,954 1,99,954 1,99,954
Shares accepted  271 407 542 678
Profit in buyback  1,260 1,893 2,520 3,153
Profit in % 0.6% 0.9% 1.3% 1.6%

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