MOIL IPO subscribed 41.23 times till 2:00 PM

The Initial Public Offering (IPO) of MOIL Limited has received overwhelming response with the issue receiving subscription of 41.23 times till 2:00 PM today - December 1, 2010.

The IPO has received total bids for 1385161105 equity shares against the offer of 33600000 equity shares. The issue has received bids for 187930036 equity shares at cut-off price.

The retail portion of the issue has received subscription of nearly 20 times till 2:00 PM. The Retail Individual Investors (RIIs) have been lapping up PSU IPO / FPO after the success of Coal India Limited where they made decent money in the short-term.

The Retail Individual Investors (RIIs) limit has also been enhanced to Rs.200000 recently by SEBI. The retail portion of MOIL IPO is expected to get subscription of atleast 25 times if we go by the trends.

The IPO closes for subscription today - December 1, 2010.

Source : Equity Bulls

Keywords