New Delhi: The government will sell 10% stake in state-owned manganese miner MOIL on Tuesday at a floor price of Rs 365 a share, which will fetch around Rs 450 crore to the exchequer. The floor price is at a discount of 4.63% over the closing price of MOIL at Rs 382.70 on the BSE. Retail investors will get a further discount of 5.20% in the offer for sale (OFS), an official said.
The government currently holds 75.58% in MOIL. Shares of MOIL closed at Rs 382.70, up 0.90% over previous close on the BSE on Monday. The two-day offer for sale (OFS) will open for institutional bidding on Tuesday and retail investors will be able to subscribe on January 25. PTI
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