MOIL IPO Details

Issue Open Nov 26, 2010
Issue Close Dec 1, 2010
IPO Price ₹375
Face Value ₹10
IPO Size ₹1,237.51 Cr
Listing At BSE, NSE
IPO Lot Size 17

MOIL LIMITED

Our Company was originally incoiponated under the Companies Act, as amended,on June 22,1962 under the name'Manganese Ore (lndia) Umited\ The nameour Company was changed to MOIL Limited and a fresh certificate of incorporation was issued consequent upon change of name on August 17,2010. Presently, the Registered Office is situated at Nagpur, Maharashtra. For details of the change in the Registered Office, see 'History and Certain Corporate Matters' on page 97 of the Prospectus.
Registered and Corporate Office: 'MOIL Bhavan' 1-A Katol Road, Nagpur 440 013, Maharashtra, India. Telephone: +91712-2806100/216; Facsimile +91712-2591661; Company Secretary and Compliance Officer: Mr. Neeraj Dutt Pandey; Telephone:+91712-2806100/208; Facsimile:+91712-2591661; E-mail: ipo@moil.nic.in;Website:www.moil.nic.in

BASIS OF ALLOTMENT

PUBLIC OFFERING OF 33,600,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH THE 'EQUITY SHARES') OF MOIL LIMITED ('MOIL' OR 'OUR COMPANY') AT A PRICE OF Rs 375* PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF Rs 365 PER EQUITY SHARE (THE 'OFFER PRICE'), AGGREGATING UP TO Rs 12,375.14* MILLION THROUGH AN OFFER FOR SALE FOR CASH BY THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF STEEL GOVERNMENT OF INDIA, THE GOVERNOR OF THE STATE OF MAHARASHTRA ACTING THROUGH THE INDUSTRIES, ENERGY AND LABOUR DEPARTMENT, GOVERNMENT OF MAHARASHTRA AND THE GOVERNOR OF THE STATE OF MADHYA PRADESH ACTING THROUGH THE FINANCE DEPARTMENT,GOVERNMENT OF MADHYAPRADESH (INDIVIDUALLYA'SELLING SHARE HOLDER'AND COLLECTIVELY THE'SELLING SHARE HOLDERS').THE OFFER COMPRISES OF A NET OFFER TO THE PUBLIC OF 32,928,000  EQUITY SHARES (THE 'NET OFFER')  AND  A   RESERVATION OF 672,000 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE 'EMPLOYEE  RESERVATION  PORTION'). THE OFFER AND NET OFFER SHALL CONSTITUTE  20%  AND  19.6% OF THE PAID-UP EQUITY SHARE CAP[TAL OF OUR   COMPANY ,RESPECTIVELY.
THE FACE VALUE OF THE EQUITY SHARES IS Rs 10 EACH. THE OFFER PRICE IS Rs 375 AND IS 37.5 TIMES THE FACE VALUE OF THE EQUITY SHARES.
* Alter  adjusting  for 5%   discount to the Offer Price offered to the Retail Individual Bidders and Eligible Employees (Retail and Employee Discount) as decided by the selling shareholders and our Company in consultation with the BRL Ms.Offer opened on November 26,2010. Offer closed on November 30,2010 for QIB Bidders and on December 1,2010 for Retail and Non-Institutional Bidders (Including Eligible Employees bidding under the Employee Reservation Portion)

THE PROMOTER OF OUR COMPANY THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF STEEL, GOVERNMENT OF INDIA
This Offer was made in terms with Rule 19 (2) (c) of the Securities Contract Regulation Rules, 1957, as amended, for less than 25% of the post Offer Equity Share capital of our Company This Offer was made through the Book Building Process in compliance with the provisions of Regulation 26(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, (the'SEBI ICDR Regulations'), wherein at least 50% of the Net Offer was Allotted on a proportionate basis to Qualified Institutional Buyers ('QIBs'' and such portion, the   'QIB ' Portiorr). Such number of Equity Shares representing 5% of the QIB Portion was available for allocation on a proportionate basis to Mutual Funds only.The remainder of the QIB Portion was available for allocation on a proportionate basis to QIBs, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Net Offer was available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Offer was availa6le for allocation on a proportionate basis to Retail Individual Bidders,subject to valid Bids Being received at or above the offer price Further, 672,000 Equity Shares were available for allocation on a proportionate basis to Eligible Employees,subject to valid Bids being received from the at or above the Offer price The Offer received 1,301,938 applications for 1,886,880,082 equity shares resulting in 56.16 times subscription.The details of the applications received in the Offer from Qualified Institutional Buyers, Non-Institutional Investors, Retail Individual Investors and Employees are as under:
(Before technical rejections) (Including ASBA Appllcatlons)

Sr. No. Category No. of Applications Received No. of Equity Shares No. of times subscribed
A Retail Individual Bidders 1297650 372841620 32.35
B Non Institutional Bidders 2416 703419166 142.41
C Qualified Institutional Bidders 303 810258318 49.21
D Employees 1569 360978 0.54
Total 1301938 1886880082 56.16

Final Demand
A summary of the final demand as per the BSE and the NSE as on the Bid/Offer closing date of different bids is as detailed here under

Bid Price No. of Shares % to total Cumulative Total Cumulative % of Total
340 5132793 0.27 5132793 0.27
341 22457 0.00 5155250 0.27
342 5032 0.00 5160282 0.27
343 1938 0.00 5162220 0.27
344 1105 0.00 5163325 0.27
345 80699 0.00 5244024 0.27
346 45900 0.00 5289924 0.28
347 1547 0.00 5291471 0.28
348 884 0.00 5292355 0.28
349 1258 0.00 5293613 0.28
350 1315630 0.07 6609243 0.34
351 7276 0.00 6616519 0.34
352 25721 0.00 6642240 0.35
353 2856 0.00 6645096 0.35
354 2686 0.00 6647782 0.35
355 4237012 0.22 10884794 0.57
356 162860 0.01 11047654 0.57
357 65637 0.00 11113291 0.58
358 215951 0.01 11329242 0.59
359 3264 0.00 11332506 0.59
360 3775598 0.20 15108104 0.79
361 2890 0.00 15110994 0.79
362 6290 0.00 15117284 0.79
363 33966 0.00 15151250 0.79
364 2839 0.00 15154089 0.79
365 4956146 0.26 20110235 1.05
366 10268 0.00 20120503 1.05
367 167943 0.01 20288446 1.06
368 6154 0.00 20294600 1.06
369 2295 0.00 20296895 1.06
370 350234 0.02 20647129 1.07
371 2278 0.00 20649407 1.07
372 11101 0.00 20660508 1.07
373 57902 0.00 20718410 1.08
374 169439 0.01 20887849 1.09
375 1574829306 81.90 1595717155 82.99
Cutoff price 327126121 17.01 1922843276 100.00

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being the National Stock Exchange of India Limited fNSE') on December 9,2010.

A. Employees
The Basis of Allocation to the employees of MOIL Ltd, who have bid at the cut-off Price of Rs 375/- per Equity Share was finalized in consultation with NSE. The total number of shares allotted In this category is 358,156. The under subscription in employee category has been spilled over to QIB, Retail and Non-Institutional category in the ratio of 50:35:15.

B. Allocation to Retail Individual Investors (After Technical Rejections) (Including ASBA Appllcatlons)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off price or the Offer Price of Rs 375/- per Equity Share (including a discount of 5% on the Offer price), was finalized in consultation with NSE. This category has been subscribed to the extentof 31.59 times.The total number of shares allotted in Retail Individual Investor category is 11,634,647 Equfty Share which were allotted to 684391 successful applicants.
The category-wise details of the Basis of Allocation are as under:

Category No. Of
Applications
% to
total
Total No. of Equity
Shares applied
% of
total
No. of Equity
Shares allocated
Ratio Total No. of
Equity Shares allocated
17 51072 4.01 868224 0.24 17 1:31 27999
34 58457 4.59 1987538 0.54 17 3:47 63427
51 51212 4.02 2611812 0.71 17 2:21 82909
68 44626 3.50 3034568 0.83 17 6:47 96849
85 32152 2.52 2732920 0.74 17 6:37 88638
102 47530 3.73 4848060 1.32 17 6:31 156383
119 29428 2.31 3501932 0.95 17 7:31 112965
136 46178 3.62 6280208 1.71 17 8:31 202589
153 12357 0.97 1890621 0.51 17 9:31 60996
170 32379 2.54 5504430 1.50 17 10:31 177565
187 13878 1.09 2595186 0.71 17 6:17 83266
204 24225 1.90 4941900 1.34 17 13:34 157471
221 7966 0.63 1760486 0.48 17 13:31 56797
238 8559 0.67 2037042 0.55 17 15:34 64192
255 304774 23.92 77717370 21.15 17 9:19 2454239
272 49404 3.88 13437888 3.66 17 1:2 419934
289 6877 0.54 1987453 0.54 17 19:35 63461
306 7944 0.62 2430864 0.66 17 19:33 77758
323 4044 0.32 1306212 0.36 17 20:33 41667
340 12660 0.99 4304400 1.17 17 7:11 136952
357 3200 0.25 1142400 0.31 17 2:3 36261
374 3734 0.29 1396516 0.38 17 23:33 44234
391 6011 0.47 2350301 0.64 17 8:11 74324
408 7386 0.58 3013488 0.82 17 29:38 95829
425 5242 0.41 2227850 0.61 17 26:33 70210
442 2148 0.17 949416 0.26 17 43:53 29631
459 2447 0.19 1123173 0.31 17 28:33 35292
476 2309 0.18 1099084 0.30 17 51:58 34510
493 1984 0.16 978112 0.27 17 10:11 30668
510 9925 0.78 5061750 1.38 17 31:33 158491
527 384102 30.14 202421754 55.07 17 49:50 6399140

C.Allocation to Non lnstltutlonal lnvestors (After Technlcal ReJectlons) (lncludlng ASBA Appllcatlons)
The Basis of Allocation to the Non-Institutional Investors, who have bid at the Offer Price of Rs 375/- per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 140.92 times.The total number of shares allotted in Non Institutional Investor category is 4,986,275 equity Shares which were allotted to 2,069 successful applicants. The sample of category-wise details of the Basis of Allocation are as under

Category No. Of
Applications
% to
total
Total No. of Equity
Shares applied
% of
total
No. of Equity
Shares allocated
Ratio Total No. of
Equity Shares allocated
544 122 5.27 66368 0.01 17 2:9 459
1190 2 0.09 2380 0.00 17 1:2 17
2125 2 0.09 4250 0.00 17 1:2 17
2533 5 0.22 12665 0.00 18 FIRM 90
5321 25 1.08 133025 0.02 38 FIRM 950
7854 1 0.04 7854 0.00 56 FIRM 56
18683 1 0.04 18683 0.00 133 FIRM 133
26690 7 0.30 186830 0.03 189 FIRM 1323
42789 1 0.04 42789 0.01 304 FIRM 304
77180 1 0.04 77180 0.01 548 FIRM 548
126684 1 0.04 126684 0.02 899 FIRM 899
221595 1 0.04 221595 0.03 1572 FIRM 1572
506600 5 0.22 2533000 0.36 3595 FIRM 17975
1360544 2 0.09 2721088 0.39 9655 FIRM 19310
5610000 1 0.04 5610000 0.80 39809 FIRM 39809
9690000 2 0.09 19380000 2.76 68761 FIRM 137522
10200000 2 0.09 20400000 2.90 72375 FIRM 144750
13333406 1 0.04 13333406 1.90 94596 FIRM 94596

D.Allocation to QIBs (After Technical Rejections) (Including ASBA Applications)

The Basis of Allocation to the Qualified Institutional Bidders, who have bid at the Offer price of Rs 375/- per Equity Share was finalized on a proportionate basis. As per SEBI regulations, Mutual Funds were initially allocated 5% of the quantum of Equity Shares available. The total number of shares allotted in Qualified Institutional Investors category is 16620922 Equity Shares which were allotted to 302 successful applicants.

Category Fls/Banks Flls MFs ICs PFs Others Total
No.of Equity Shares allocated 7517279 6047346 2164979 880068 11250 16620922

The IPO Committee of the Board of Directors of the Company at its Meeting held at Nagpur on 10th December, 2010 has taken on record the basis of allocation of Equfty Shares of the Offer and has accordingly allotted the Equity Shares to the Bidders. The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched to the address of the Bidders as registered with thedepositories on or prior to 13.12.2010. In case the same is not received within 10 days, investors may contact at the address given below. The instructions to Self Certified Syndicate Banks have been dispatched on or prior to 10.12.2010. The Refund Orders have been over-printed with the BankAccount details as registered, if any, with the depositories. Commencement of Trading: The Equity Shares allocated to successful applicants have been credited on December 11,2010 to the beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is taking steps to get the Equity Shares admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within twelve working days from the date of closure of the Offer (i.e. by Wednesday, December 15,2010).
INVESTORS PLEASE NOTE: The details of the allocation made would be hosted on the website of Registrar to theOffer, Karvy Computershare Private Limited at http://karisma.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Offerquotingfollnameofthe First/Sole applicant, serial numberof the Bid-cum
bid for, name of the Member of the syndicate, placs where the bid was submitted and payment details of the address given below.

Karvy Computershare Private Limited:
Unit: MOIL Limited, Plot No. 17 to 24,
Vithalrao Nagar, Hitech City Road,
Madhapur, Hyderabad 500081,
Fax: 040-23420814,
Email: einward.ris@karvy.com, Website: http://karisma.karvy.com.
TOLL FREE - HELPLINE NUMBER: 1-800-3454001

Place: Nagpur
Date December 14,2010
For MOIL Limited
Sd/-
Neeraj Dutt Pandey
:Company Secretary

THE LEVELOF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET  PRICE OF THE EQUITY SHARES ON US TING OR THE  BUSINESS PROSPECTSOF MOIL LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.'MOIL Limited proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make an Initial Public Offer of its equity shares and has filed a Prospectus with the Registrar of Companies, Maharashtra, Mumbai. The Prospectus is available on the websites of SEBI and the Book Running Lead Managers at www.sebi.gov.in, www.edelcap.comwww.idbicapital.com and  www.jpmipl.com. Investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the section titled 'Risk Factors' page no. xii of the Prospectus. These materials are not an offer of securities for sale in the United States or in any other jurisdiction where such offer may be restricted. Securities may notbeofferedorsold in me United Stetesabsentregistrationoran exemption from rra^ The Equity Shares of MOIL Limited have not been and will not be registered under the U.S. Securities Act of 1933, as amended. MOIL Limited does not intend to make a public offer of its securities in fhe United States. These materials are not being, and should not be, distributed in or sent into the United States.'

MOIL IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in MOIL IPO?

    Check the basis of allotment document above to know about how the shares are allocated in MOIL IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).
  2. 2. What is MOIL IPO basis of allotment status?

    The MOIL IPO basis of allotment (published above) tells you how shares are allocated to you in MOIL IPO and category wise demand of IPO share.

    Visit the MOIL IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is MOIL IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in MOIL IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).








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