Retail Portion of MOIL IPO subscribed 10.86 times

The Initial Public Offering (IPO) of MOIL Limited has received unprecedented demand from Retail Individual Investors (RIIs) with their portion garnering subscription of 10.86 times with bids for 125150362 equity shares against the offer of 11524800 equity shares.

The Retail Portion has received bids for 102555764 equity shares at cut-off price and bids for 22594598 equity shares through price bids.

The issue closes for subscription by Retail Individual Investors (RIIs) on December 1, 2010. We expect the IPO to garner subscription of atleast 20-25 times in retail portion.

The maximum number of shares a retail investor can apply in this IPO is Rs.197625 for 527 equity shares at cut-off price (Rs.375). The retail individual investors and employee portion will get a discount of 5% on the fixed price.

Source : Equity Bulls

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