MOIL which had tapped the capital markets with its IPO which opened on Friday the 26th of November and closed for QIB bidders on Tuesday 30th November was subscribed 49.16 times by QIB’s. The issue will close for all other bidders on Wednesday the 1st of December.

The total number of shares bid were 80,93,12,438 against the book size of 1,64,64,000 shares. The total demand generated was Rs 30,300 crs. The overall issue was subscribed 29.10 times with the HNI category subscribed 8.77 times, the retail category was subscribed 10.86 times and employee 0.20 times. The total bids received as of now are 97,79,11,298 shares or in rupee terms have garnered bids worth Rs 36,671 crs against an issue size of Rs Rs 1260 crs. Tomorrow is the last day and we are likely to see the HNI segment increase by about 17 to 20 times the current subscription and the retail subscription just about double, making the total subscription somewhere in the region of 55 times or thereabouts. The issue would have garnered bids for Rs 69,300 crs at that subscription.

Very clearly if issues are well priced offering scope for appreciation, there is no dearth for money in the country. With the Government having realised this secret, let’s hope private promoters realise the same and start pricing issues leaving something on the table for all investors