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Manganese Ore India Limited – MOIL – IPO – Post review
MOIL IPO was a stunner – over 55 times subscribed – this is too much.
Retail it was 33 times. Too bad guys – chances are allotments may not be more than 20-22 shares at cut – off. Worth about Rs 8000 for Retail.
The interesting thing will be to see the appreciation on listing. CIL inspite of it’s size was only 15 times over. It gave a listing pop of 45%.
But with MOIL we are in new territory. Smaller cap listing, higer oversubscription, good basic assets. 50%? 60%? Lets wait and see ….
The lesson from CIL is that HNI is moving to Retail (quota) . Retail gets more shares allocation. Of course the new increased 2L limit for Retail helps, as does the 5% additional discount on PSU offerings.