India Infoline Ltd hit the capital market with an initial public offering of 1.18 crore (11.8 million) equity shares at a price band of Rs 70-80 per share.
The issue opened on Thursday and will close on Wednesday (April 27).
On the very first day itself, it was oversubscribed by 3.16 times.
In the QIB portion, it has been oversubscribed approximately 6 times.
Retail investors generally come in on the last days. So one has to wait till then to find out how much the retail portion has been over subscribed to.
Of the issue, 8.78 lakh (878,000) shares are reserved for allotment to employees of the company and its subsidiaries. Of the balance, 55 lakh (5.5 million) shares have been reserved for allocation to Qualified Institutional Bidders (QIBs), while 27.5 lakh (2.75 million) shares have been reserved for allocation to non-institutional bidders and retail individual bidders.