Coal India IPO subscribed 0.34 times on Day 1

The Initial Public Offering (IPO) of Coal India Limited which opened for subscription on October 18, 2010 has received subscription of 0.34 times at the end of first day.

The company has come out with Public offer of 631,636,440 equity shares of face value of Rs. 10 each for cash at a price band of Rs.225 to Rs.245 through 100% book building process.

The IPO has received total bids for 213486275 equity shares against the offer of 631636440 equity shares. The issue has received bids for 11324150 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 178061900 equity shares against the offer of 284236398 equity shares resulting in a subscription of 0.63 times.

The Non Institutional Investors portion of the issue has received subscription of 0.18 times with bids for 15166550 equity shares against the offer of 85270919 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 20170400 equity shares against the offer of 198965479 equity shares resulting in a subscription of 0.10 times.

The Employee Reservation portion of the issue has received subscription of 0.00 times with bids for 87425 shares against the offer of 63163644 shares.

The IPO closes for subscription on October 21, 2010.

Source : Equity Bulls

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