Coal India Limited issue received excellent response even in the HNI category where the issue was subscribed 25.4 times and the retail category where the oversubscription was 2.31 times. It was only the employee category where the subscription was a mere 0.10 which did not receive adequate response. The overall subscription was 15.28 times. The issue has garnered bids for a total of 965.02 cr shares valued at Rs 2,36,430 crs marking an extremely successful issue.
Details of the subscription by various categories of investors are as follows: –
| Category | Shares Offered | Shares Subscribed | Times |
| QIB | 284236398 | 7019464125 | 24.7 |
| NII | 85270919 | 2166004875 | 25.4 |
| Retail | 198965479 | 458634025 | 2.31 |
| Employee | 63163644 | 6174300 | 0.1 |
| Overall | 631636440 | 9650277325 | 15.28 |
The overall subscription is in line with what was expected and the Diwali bonus that was talked about in the article will be further sweetened on two counts. The first is the quantity of shares that will be allotted have increased substantially from the conservative expectation of 133 shares to just about 190 shares. Secondly the demand generated has increased the market price substantially and against the Rs 260 one can now safely assume a price of Rs 270-275. Taking our calculation of 190 shares, a profit of Rs 42 per share including the discount of Rs 12 we are talking of just about Rs 8000.
EXCELLENT Diwali Bonus!
