Indian IPO

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Friday, September 11, 2009

Oil India IPO overbid 31 times; heavy QIB interest seen

The initial public offering (IPO) of Oil India (OIL), the second largest oil and gas company in India, has received remarkable response from investors, especially QIB (qualified institutional investors).

It has been subscribed 30.82 times so far and has received bids for 81.5 crore shares as against issue size, as per the data available on the NSE website. QIBs' reserved portion got subscribed 54 times followed by non-institutional and retail investors; their portion subscribed 10.5 times and 1.8 times, respectively. The issue received more than 2.10 lakh applications.

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