MOIL IPO retail subscription crosses 10 times

The Retail Individual Investors (RIIs) portion of MOIL Limited IPO has crossed subscription of more than 10 times as of 7:00 PM on November 30, 2010.

The MOIL IPO has received total subscription of 977911298 equity shares against the offer of 33600000 equity shares resulting in a overall subscription of 29.10 times.

The Retail Individual Investors (RIIs) who are allowed to bid for shares at cut-off price have subscribed for 102687803 equity shares. The Retail Individual Investors (RIIs) portion of the issue is 11524800 equity shares. With the addition of price bids by retail investors along with the bids at cut-off price, the issue has crossed 10 times subscription already.

We expect the retail portion of the issue to get subscribed atleast 20 times. The IPO closes for subscription by investors other than QIBs on December 1, 2010. The IPO closed today for subscription by QIBs.

Source : Equity Bulls

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