MOIL Limited has incorporated MOIL MPSMCL Mining Limited, a joint venture with Madhya Pradesh State Mining Corporation Limited (MPSMCL), to focus on manganese ore mining operations.

The venture was formed following the execution of a Joint Venture Agreement between MOIL and the state corporation. Regulatory approvals from the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Steel were secured prior to incorporation. This strategic expansion aims to leverage shared ownership for manganese ore extraction.

Joint venture structure and shareholding

The joint venture company issued 102,000 equity shares of ₹10 each on August 1, 2026. MOIL holds a majority stake of 51%, while MPSMCL holds 49%. The consideration for the acquisition of shares was paid in cash.

Related party transaction status

The disclosure confirms that the acquisition falls within related party transactions. The State Government of Madhya Pradesh is a promoter of both MOIL and MPSMCL. Consequently, the promoter group holds an interest in the entity being acquired. The filing notes that the transaction is conducted at arm's length.

What the Numbers Show

The data reveals a clear consolidation of control by MOIL through its 51% majority stake, despite equal promoter backing from the State Government of Madhya Pradesh for both parent entities. This structure allows MOIL to maintain operational leadership in the manganese ore segment while leveraging local regulatory and logistical advantages associated with MPSMCL. The issuance of 102,000 shares at ₹10 each establishes an initial equity base of ₹10.2 lakh, indicating a foundational capital structure for the newly incorporated venture.

MOIL Limited appointed Rajiv Atrey and Atul Sharma as General Managers (Mechanical) effective October 6, 2026. The appointments mark changes in the senior management structure of the government-owned mining enterprise.

The disclosures were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both individuals hold B.E. degrees in Mechanical Engineering and are designated as Heads of Department for Mechanical operations.

Appointment details

The company outlined the specific roles and effective dates for the new senior management personnel in its filing to stock exchanges.

Regulatory context

The appointments fall under the definition of Senior Management as per Regulation 16(1)(d) of the SEBI (LODR) Regulations, 2015. The term of appointment for Atrey is governed by the service rules of MOIL, while Sharma's term details were marked as not applicable in the disclosure.

This move ensures continuity in the mechanical engineering leadership of the Nagpur-based manganese mining company.