Retail Portion of Coal India IPO receives subscription of 2.31 times

The Retail Individual Investors portion of Coal India Limited IPO received subscription of 2.31 times with bids for 458634025 equity shares against the offer of 198965479 equity shares.

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

The Retail Individual Investors (RIIs) bid for 392048500 equity shares at cut-off price and for 66585525 equity shares through price bids.

The Employee Reservation Portion of the issue has received bids for 6174300 equity shares against the offer of 63163644 equity shares resulting in a subscription of 0.10 times.

The Employees subscribed for 5849500 equity shares at cut-off price and 324800 shares through price bids.

Source : Equity Bulls

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