MOIL Limited has announced the incorporation of a joint venture company, MOIL MPSMCL Mining Limited, in partnership with Madhya Pradesh State Mining Corporation Limited (MPSMCL), as per the exchange filings.
The development follows approvals from relevant government authorities and marks a strategic step towards expanding manganese ore mining operations.
The Ministry of Corporate Affairs informed the company about the incorporation of the joint venture on June 6, 2026.
The newly incorporated entity, MOIL MPSMCL Mining Limited, was registered on June 4, 2026, in India and has been formed to undertake manganese ore mining activities.
According to the disclosure, the joint venture will focus on the mining of manganese ore, a key raw material used in steel production and various industrial applications.
MOIL MPSMCL Mining Limited will operate as a subsidiary of MOIL Limited, with MOIL holding a 51% stake in the venture.
The remaining 49% shareholding will be held by Madhya Pradesh State Mining Corporation Limited.
The joint venture has been incorporated through a cash subscription of 1,02,000 equity shares with a face value of ₹10 each.
The company stated that the formation of the joint venture had already received approvals from the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Steel.
The partnership is expected to support the development and exploration of manganese resources in Madhya Pradesh while strengthening MOIL's position in the domestic mining sector.
As of 08 June 2026, at 12:30 PM, MOIL share price is trading at ₹292.30 per share, reflecting a decline of 1.85% from the previous closing price.
The incorporation of MOIL MPSMCL Mining Limited marks a significant step in MOIL's expansion strategy. With a majority stake in the joint venture, the company is set to strengthen its presence in manganese ore mining through collaboration with Madhya Pradesh State Mining Corporation.
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Published on: Jun 8, 2026, 12:54 PM IST
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