Joint Venture6 Jun 2026, 05:51 pm
Moil Ltd Incorporates Joint Venture 'MOIL MPSMCL MINING LIMITED'
AI Summary
Moil Ltd announced the incorporation of its Joint Venture (JV) company, MOIL MPSMCL MINING LIMITED, with effect from June 6, 2026. The JV, which has been allotted Corporate Identification Number U07293MP2026GOI084604, will be involved in the mining of Manganese Ore. Moil Limited will hold a 51% stake, while Madhya Pradesh State Mining Corporation Limited (MPSMCL) will hold 49%. The incorporation received prior approval from DIPAM and the Ministry of Steel. The initial subscription involved cash consideration of INR 10 per share for 102,000 equity shares.
Key Highlights
- Moil Ltd has incorporated a new Joint Venture company.
- The JV, MOIL MPSMCL MINING LIMITED, focuses on Manganese Ore mining.
- Moil Limited will hold a 51% controlling stake in the JV.
- The incorporation received necessary governmental approvals.
- Initial investment is cash-based with a 51/49 shareholding split.