Moil533286Subsidiary or JV
Joint venture company issues 1.02 lakh equity shares of Rs. 10 each; partners hold 51% and 49%
The company has shared consolidated details of its joint venture company, MOIL MPSMCL Mining Limited, formed with Madhya Pradesh State Mining Corporation Limited (MPSMCL).
By ScoutQuest · · 2 min read
51%Shareholding held by the company
- Shares Issued
- 1.02 lakh equity shares of Rs. 10 each on 01.08.2026, against cash consideration
- Shareholding
- the company holds 51% and MPSMCL holds 49%
- Approvals
- already approved by DIPAM and the Ministry of Steel
Joint venture details: what the disclosure sets out
- The target entity is MOIL MPSMCL Mining Limited, the joint venture company of the company and Madhya Pradesh State Mining Corporation Limited (MPSMCL).
- The joint venture company has issued 1.02 lakh equity shares of Rs. 10 each on 01.08.2026. The consideration for the acquisition is cash.
- The cost of acquisition is stated as 1.02 lakh equity shares of INR 10 each.
Shareholding pattern
- The company holds 51%.
- Madhya Pradesh State Mining Corporation Limited holds 49%.
What the venture does
- The industry to which the entity belongs is mining of manganese ore, and the objects and impact of the acquisition are also stated as mining of manganese ore. In other words, the venture operates in the same line of business as the company.
- Governmental and regulatory approvals for the acquisition are already in place: DIPAM and the Ministry of Steel have approved it.
Related party point
- The update answers "Yes" to whether the acquisition falls within related party transaction(s).
- The reason given is that the State Government of Madhya Pradesh, one of the promoters of the company, is also a promoter of MPSMCL.
How to read this
- This is an intimation regarding a joint venture company, in continuation of the company's earlier letters dated 18.10.2024 on the joint venture agreement and 06.06.2026 on the incorporation of the joint venture company.
- The company states it is once again submitting the consolidated details relating to the joint venture for completeness and ease of reference.
- For a retail reader, the takeaways are the ownership split of 51% and 49%, a cash-funded issue of 1.02 lakh equity shares of Rs. 10 each in a manganese ore mining venture, and the fact that the transaction sits in the related party category because of the shared state government promoter link.
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More numbers
- Equity shares issued by the joint venture company102000
- Face value per equity shareRs. 10
- Cost of acquisition - equity shares1,02,000 equity shares
- Price per share in cost of acquisitionINR 10
- Shareholding held by the company51%
- Shareholding held by MPSMCL49%
Source: BSE · 17 Oct 2026
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