MOIL IPO - Analysis, Recommendation, Review

MOIL, a public sector company has come up with an IPO of 3.3 crore shares. There are several PSUs lined up in the divestment programme of the Government this fiscal and there is almost one offering every month with SCI and MOIL public issue overlapping.

The IPO will open on November 26 and will close for institutional bidders on November 30 and for other investors on December 1. The company has fixed the price band of Rs 340 - Rs 375 per share.

The retail portion for the MOIL issue will be bigger as the limit for them has been upped by SEBI from Rs 1 lakh to Rs 2 lakh.

IDBI Capital, Edelweiss Capital and JP Morgan India are the book running lead managers.

Recommendation:
We would recommend investors to invest in MOIL IPO.

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