I just got my hands on the red herring prospectus of MOIL Limited (formerly Manganese Ore (India) Limited), so I’m not quite ready to do a full post yet, but a quick glance shows that the company is on pretty sound footing.
It is the biggest producer of Manganese Ore in India, which is used for steel production, and is a profitable company with zero debt. The MOIL IPO will open on the 26th November 2010, and close on 1st December 2010 for retail investors. The pricing has not been decided yet, and will be declared on the 23rd November.
Here are some vital stats of the MOIL Limited IPO.
I will try and do a full review later, but it will probably make more sense to wait till the pricing is out because other than that the company looks to be in pretty good shape.
Update: Since the pricing is out, I did a more detailed post on MOIL IPO here.