MOIL IPO receives subscription of 33.35 times

The Initial Public Offering (IPO) of MOIL Limited has received overwhelming response from investors with the issue garnering subscription of 33.35 times till 12:00 Noon on December 1, 2010.

The issue has received total bids for 1120558383 equity shares against the offer of 33600000 equity shares resulting in overall subscription of 33.35 times. The issue has received bids for 149087994 equity shares at cut-off price.

The IPO closes for subscription by investors today - December 1, 2010 and closed for subscription by QIBs yesterday - November 30, 2010.

The issue has been priced attractively in a price band of Rs.340 to Rs.375. The Rating Agency CARE has assigned IPO Grading of IPO Grade 5 indicating strong fundamentals.

Source : Equity Bulls

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