Coal India IPO garners subscription of 1.71 times

The Initial Public Offering (IPO) of Coal India Limited which opened for subscription by investors on October 18, 2010, has received subscription of 1.71 times. The issue has received total bids for 1080167825 equity shares against the offer of 631636440 equity shares. The IPO received bids for 48444750 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received bids for 964058425 equity shares against the offer of 284236398 equity shares resulting in a subscription of 3.39 times.

The Non Institutional Investors portion of the issue has received subscription of 0.54 times with bids for 46247250 equity shares against the offer of 85270919 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 69216425 equity shares against the offer of 198965479 equity shares resulting in a subscription of 0.35 times.

The Employee Reservation portion has received subscription of 0.01 times with bids for 645725 equity shares against the offer of 63163644 equity shares.

The IPO closes for subscription by QIB bidders on October 20, 2010. The IPO closes for subscription on October 21, 2010 for other investors.

Source : Equity Bulls

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