The initial public offer (IPO) of India's largest coal producing company Coal India Ltd (CIL) has been fully subscribed on the second day itself on the back of good response from qualified institutional investors/ buyers (QIB). The issue has been subscribed 1.57 times, as per the data showed in the exchange.
Coal India has received bids for 99.12 crore equity shares as against the issue size of 63.16 crore shares. The reserved portion of QIBs got subscribed three times.
As per the media reports, retail and non-institutional investors' portion subscribed just 0.3 times and 0.5 times, respectively.
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