Joint Venture17 Oct 2026, 05:30 pm
MOIL Ltd Updates Joint Venture Company Details
AI Summary
MOIL Limited has provided consolidated details regarding its Joint Venture (JV) company, MOIL MPSMCL Mining Limited, formed with MP State Mining Corporation Limited. The JV aims to mine Manganese Ore. MOIL holds a 51% stake, while MPSMCL holds 49%. The acquisition involved a cash consideration of ₹10,20,000 (102,000 equity shares at ₹10 each). Key approvals from DIPAM and the Ministry of Steel have been obtained. The State Government of Madhya Pradesh, a promoter of MOIL, is also a promoter of MPSMCL, and the transaction is considered at arm's length.
Key Highlights
- MOIL Ltd provides consolidated details on its JV, MOIL MPSMCL Mining Limited.
- MOIL holds 51% stake; MPSMCL holds 49% in the JV.
- JV focuses on Manganese Ore mining.
- Acquisition cost was ₹10,20,000.
- Key government approvals secured.
Price Impact
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