Coal India IPO garners subscription of 15.17 times

The Initial Public Offering (IPO) of Coal India Limited which opened for subscription on October 18, 2010 has received subscription of 15.17 times till 5:00 PM today.

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 issue has received total bids for 9580260075 equity shares against the offer of 631636440 equity shares. The IPO received bids for 330142200 equity shares at cut-off price.

The IPO closed for subscription by QIB bidders on October 20, 2010 and closes for subscription today (October 21, 2010) for other investors.

Source : Equity Bulls

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