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Article: India: Oil India IPO Fully Subscribed.
- Article from:
- TendersInfo
- Article date:
- September 7, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
The $570 million initial public offer of Oil India Ltd. was fully subscribed within an hour of its opening Monday, suggesting that investor appetite for Indian share sales is still alive.
"The issue has been fully subscribed. Most of the bids are at the top end of the price band," an investment banker, who didn't wish to be named, told Dow Jones Newswires.
The issue has been priced in an indicative band of 950 rupees ($19.5)-1,050 rupees.
Latest data from the National Stock Exchange - which doesn't include bids on the Bombay Stock Exchange - showed the issue was subscribed 0.91 times.
The issue of nearly ...