Recently closed Coal India IPO witnessed superb response from retail investors and this trend is expected to grow with the upcoming IPO of Manganese Ore India Ltd (MOIL) and FPO of Power Grid Corporation . The Power Grid Corporation FPO will be hitting the Indian share market on 9th Nov 2010.
The Coal India Issue received 17.5 lakh retail applications. This is about 10% of the total number of demat account holders in the country. The retail portion of the issue was oversubscribed 2.3 times, where against the 20 crore shares on offer, the company received bids for 458 crore shares.
More than 2,000 ASBA accounts were opened with Bank of India for the Coal India IPO, said a bank official.
Upcoming IPOs & FPOs in November 2010 may be good options for first time investors as SEBI has recently increased the retail investment limit in IPOs and FPOs. Upcoming FPOs & IPOs - Power Grid Corporation’s FPO is on 9th Nov 2010 and will be available till 11th Nov 2010 , The IPO of MOIL (Manganese Ore India Ltd) is also expected in November (exact date yet to be announced)
To open a Demat Account for the upcoming IPO s please visit www.demat9.in
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