Despite the big fall in the stock market, the IPO of Muthoot Microfin closed on a high note on Wednesday. There was a fight among investors for this IPO also and till the last day it was oversubscribed in every category including retail.
Retail investors bid a lot
Muthoot Microfin's IPO this week. The first day of opening was on 18th December. It could be subscribed till Wednesday 20th December. After the close of trading on Wednesday, this IPO was subscribed more than 12 times overall. Retail investors also did not lag behind in bidding for this IPO and the IPO got 8 times subscription in this category.
This much subscription was received in 3 days
After the closing of the IPO, the most More subscription of 18.35 times came in QIB category. It was subscribed 13.87 times in NII category. Whereas the subscription in retail category was 8 times. In this way, 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 were received for 28,10,02,809 shares in 3 days.
The biggest hit IPO in this category
The beginning of this IPO was not good. This IPO was not completely filled on the first day. It was subscribed 83 percent on the first day. Later demand started increasing in NII and retail categories. The IPO was completely filled on the second day. After the end of the second day the subscription status was 2.83 times. After the third day, it became the highest subscribed IPO till date in the MFI category.
Expectation of earning this much on every lot
The price band of this IPO is fixed at Rs 277-291. it was done. There were 51 shares in one lot of this IPO of Rs 960 crore. That means investors had to invest at least Rs 14,841 for one lot. Now its premium in the gray market has come down to Rs 15, which was Rs 35 a day ago. As of now, its investors can earn Rs 765 on every lot.
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