MOIL which had launched its successful IPO between the 26th of November and the 1st of December is to list on Wednesday the 15th of December. The issue was in a price band of Rs 340-375 and was for 336 lac shares. The issue was subscribed a staggering 56.43 times and raised a staggering Rs 71,000 crs against the issue size of Rs 1260 crs.

It has been a long time since the entire retail portion has been allotted on a lottery system and every successful applicant in the retail category has been allotted the minimum lot of 17 shares. Some important statistics based on allotment figures show that there were 13,01,938 applications which were valid. In the retail category the total number of valid applications was 12,97,650 and the issue was subscribed 32.35 times. The number of applicants in the retail category who were allotted shares is 6,84,391 which as a percentage of valid bids is 52.74%.

The success of the issue can be gauged from the fact that the HNI portion was oversubscribed 142 times and firm allotment has been given to people who applied for 2533 shares. They have received 18 shares against their application.

The premium of this share had touched a high of Rs 280-290 at one point of time and then feels to about half its value at Rs 145-150. The present premium being quoted is Rs 170-180. It would be interesting to see where the share trades tomorrow and the kind of buying interest that would emerge.