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Mining IPO Sees Slow Start: 25% Subscribed
24 Mar
Summary
- Central Mine Planning & Design Institute IPO subscribed 25% on the second day.
- Qualified Institutional Buyers subscribed 62% of their allocated portion.
- Retail investors showed less interest, subscribing only 8% of their quota.
The initial public offering (IPO) for Central Mine Planning & Design Institute Ltd, an arm of state-owned Coal India, experienced a measured response on its second day of bidding, achieving 25% subscription. This translates to bids for 2,02,84,720 shares against the total offering of 7,97,89,500 shares. Investor interest varied across different categories.
Qualified Institutional Buyers (QIBs) demonstrated significant engagement, with their portion of the IPO receiving 62% subscription. In contrast, retail individual investors showed more reserved participation, with only 17% of their quota being subscribed. Non-institutional investors also exhibited caution, with their category seeing only an 8% subscription rate.
