Coal India IPO Subscription at 0.74 times, QIB Fully Subscribed Already

As expected, Coal India initial public offer (IPO) is doing wonders in the market and has already been subscribed 0.74 times (74%) on its second day at the opening. Qualified Institutional Investors (QIB) portion has been fully subscribed. The issue has been received bids for 46.92 crore equity shares as against issue size of 63.16 crore shares.

The Government is looking to raise over Rs 15, 000 crore through the biggest IPO in the country. The IPO has received total bids for 213486275 equity shares against the offer of 631636440 equity shares. The issue has received bids for 11324150 equity shares at cut-off price. Coal India IPO will close for QIBs on October 20 where as non-QIBs it will close on Oct 21.