Non Institutional and Retail Investors shun NMDC FPO

The Non Institutional Investors and Retail Individual Investors (RIIs) have shun the FPO of NMDC Limited which poor subscription under their allocated quota.

The Non Institutional Investors portion has received bids for 301260 equity shares against the offer of 49575000 equity shares resulting in a subscription of 0.0061 times. Under Non Institutional Investors quota, Corporates have applied for 222240 equity shares, Individuals (Other than RIIs) have applied for 77020 equity shares and others have applied for 2000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.0285 times with bids for 3301860 equity shares against the offer of 115675000 equity shares. Under Retail quota, bids for 2311680 equity shares have been received at cut-off price and bids for 990180 equity shares are price bids.

The Employee Reservation portion has received bids for 69640 equity shares against the offer of 1743200 equity shares resulting in a subscription of 0.0399 times.

Source : Equity Bulls

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