MOIL IPO subscribed 56.29 times

The Initial Public Offering (IPO) of MOIL Limited has received excellent response from all spectrum of investors. The IPO has received subscription of 56.29 times with total bids for 1891311081 equity shares.

The issue has received total bids for 1891311081 equity shares against the offer of 33600000 equity shares. The issue has received bids for 318627906 equity shares at cut-off price.

The Retail Individual Investors (RIIs) portion of the issue has received more than 31 times subscription. The retail investors who applied for full quota of Rs.2 lakhs are expected to get meagre allotment of 1 lot (17 equity shares) due to huge oversubscription.

The IPO closed for subscription by QIBs on November 30, 2010 and closed today for subscription by all other investors.

Source : Equity Bulls

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