Motilal Oswal IPO receives 27.41 times subscription

The Initial Public Offering (IPO) of Motilal Oswal Financial Services Limited received overwhelming response from investors even though the stock markets were highly volatile.

The IPO of leading Broking House in India opened for subscription on Aug 20, 2007 and closed today - Aug 23, 2007.

The company came out with an issue of 2982710 Equity Shares of Rs.5 each for cash at a price band of Rs.725/- to Rs.825/- through 100% book building process.

The issue received bids for 81767888 equity shares against the offer of 2982710 shares resulting in a subscription of 27.41 times. The issue also received bids for 3539152 equity shares at Cut-off price.

Out of the issue, the Qualified Institutional Buyers (QIBs) portion received bids for 74820872 equity shares against the offer of 1704240 equity shares resulting in a subscription of 43.9028 times.

The Non Institutional Investors portion of the issue received bids for 10.8889 times with bids for 3092888 equity shares against the offer of 284040 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 3783456 equity shares against the offer of 852120 shares resulting in a subscription of 4.4401 times. The Employee Reservation received subscription of 0.4966 times with bids for 70672 shares against the offer of 142310 equity shares.

Source : Equity Bulls

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