Coal India IPO subscribed 15.28 times

The Initial Public Offering (IPO) of Coal India Limited which closed for subscription on October 21, 2010 has received overwhelming response with subscription of 15.28 times.

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 IPO received total bids for 9650277325 equity shares against the offer of 631636440 equity shares. The issue received bids for 397901150 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 7019464125 equity shares against the offer of 284236398 equity shares resulting in a subscription of 24.70 times.

The Non Institutional Investors portion of the issue received subscription of 25.40 times with bids for 2166004875 equity shares against the offer of 85270919 equity shares.

The Retail Individual Investors (RIIs) portion of the issue received bids for 458634025 equity shares against the offer of 198965479 equity shares resulting in a subscription of 2.31 times.

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 IPO opened for subscription on October 18, 2010 and closed for subscription by QIBs on October 20, 2010. The issue closed for subscription by other investors on October 21, 2010.

Source : Equity Bulls

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