Coal India IPO subscribed 10.39 times on excellent response from QIBs

The Initial Public Offering (IPO) of Coal India Limited which opened for subscription on October 18, 2010 has received subscription of 10.39 times till 4:00 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 IPO has received total bids for 6561515675 equity shares against the offer of 631636440 equity shares. The issue has received bids for 123519375 equity shares at cut-off price.

The IPO closes for subscription bye QIB bidders today - October 20, 2010 and closes for subscription on October 21, 2010 for other investors.

Source : Equity Bulls

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