The government today said that state-owned MOIL, which will hit the capital markets on November 26, would become the first PSU to come with a public offer where retail investors can invest up to Rs 2 lakh.”This would be the first issue by a PSU( MOIL issue ) where retail investors will be able to invest up to Rs 2 lakh,” Disinvestment Secretary Sumit Bose told reporters here.As per the new norms announced by the market regulator Sebi in October, investment limit for retail investors in initial share sale offer has been doubled to Rs 2 lakh as against Rs one lakh earlier.
MOIL, formerly known as Manganese Ore (India) Ltd, will hit the capital market on November 26 with a public issue of 3.36 crore equity shares and the IPO would close on December 1.
