Investors pounced on this IPO, the retail category also subscribed 8 times, indicating so much earnings from GMP.

Despite a major fall in the stock market, Muthoot Microfin’s IPO closed on a high note on Wednesday. Investors fought for the IPO and by the last day it was oversubscribed in every category, including retail.

Retail investors bid a lot.

Muthoot Microfin’s IPO was opened earlier this week on December 18. It can be subscribed until Wednesday, December 20. After the close of trading on Wednesday, the IPO was oversubscribed more than 12 times. Retail investors also did not lag behind in bidding for this IPO and the IPO received 8 times subscription in this category.

Got so many subscriptions in 3 days.

After the close of the IPO, the QIB category saw the highest subscription of 18.35 times. It was subscribed 13.87 times in the NII category. While the subscription in the retail category was 8 times. Thus this IPO was subscribed a total of 12.30 times in 3 days. A total of 2,28,52,234 shares were offered in the IPO while bids for 28,10,02,809 shares were received in 3 days.

The most hit IPO in this category

This IPO didn’t get off to a good start. This IPO was not fully filled on the first day. It was 83 percent subscribed on the first day. Later the demand started to pick up in NII and retail categories. The IPO was fully booked on the second day. After the end of the second day the subscription position was 2.83 times. After the third day, it became the most subscribed IPO ever in the MFI category.

Expect to earn so much on each lot

The price band for this IPO was set at Rs 277-291. One lot of this Rs 960 crore IPO had 51 shares. This means investors had to invest a minimum of Rs 14,841 for one lot. Now its premium in the gray market has come down to Rs 15 from Rs 35 a day ago. As of now, its investors can earn Rs 765 per lot.

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