Coal India's IPO subscribed 34%; big FIIs yet to apply

With foreign institutional investors (FIIs) showing a fair amount of interest, the Rs 15,000-crore initial public offering (IPO) of Coal India (CIL) got off to a reasonably good start with more than a third of the issue being subscribed to on the opening day. This is despite the fact that qualified institutional buyers (QIB) need to bring in their entire subscription amount upfront after the markets regulator Sebi made this compulsory in May. The CIL issue saw a subscription of 34% on day one. The QIB category, comprising FIIs, mutual funds and insurance companies, was subscribed 63%, receiving 178 million ...

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