The initial public offering (IPO) of Motilal Oswal Financial Services got subscribed by 1.96 times, according to the National Stock Exchange website. Nearly 1 per cent of the total bids received for close to 30 lakh equity shares on offer were at the cut-off price. The shares were priced in a band of Rs 725 to Rs 825. The issue closes on August 23.
The qualified institutional buyers’ (QIB) portion has been subscribed by 3.33 times. Foreign institutional investors have placed bids for all shares in the QIB portion. Nearly 6 per cent of the total shares reserved for retail investors have received bids so far. The portion for non-institutional investors has been subscribed 0.4 times.
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