MOIL incorporates Joint Venture Company for Manganese Ore Mining
MOIL Limited has confirmed the incorporation of a new Joint Venture (JV) entity focused on mining operations. The company, named MOIL MPSMCL MINING LIMITED, was officially incorporated in India on June 4, 2026.The newly formed entity is dedicated to the industry of Mining of Manganese Ore and operates within the sector. According to incorporation details, MOIL MPSMCL MINING LIMITED functions as a subsidiary of MOIL Limited.
This venture required securing approvals from both DIPAM and the Ministry of Steel before its formalization. The consideration for the JV was cash, with specific share subscription costs recorded.
The key structural and financial details related to the incorporation are presented below:
| Particulars | Details |
|---|---|
| Name of Entity | MOIL MPSMCL MINING LIMITED |
| Date of Incorporation | 04.06.2026 |
| Industry | Mining of Manganese Ore |
| Holding Company Relation | Subsidiary of MOIL Limited |
| Nature of Consideration | CASH |
| Shares Allotted | 1,02,000 equity shares of INR 10 each |
MOIL MPSMCL MINING LIMITED holds a 49% share in the new venture, with Madhya Pradesh State Mining Corporation Limited (MPSMCL) holding the remaining stake. MOIL Limited controls 51% of the company.
MOIL Stock Price Movement
MOIL Limited shares edged higher on Friday, settling at ₹297.80 after gaining 0.46% in a solid close. The stock saw heavy activity, recording a volume of 872,144 shares and trading well within its day range, which spanned from ₹295.05 to ₹307.80.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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