PSU NEWS
MOIL share sale Institutional buyers put in Rs 580 crore bids
NEW DELHI: Strong demand from institutional buyers saw bids worth over Rs 580 crore coming in on the first day of government's 10 per cent stake sale in manganese miner MOILBSE -3.78 %.
The share sale attracted bids for over 1.60 crore shares as against 1.06 crore shares offered to institutional investors, garnering a subscription of 1.51 times, according to the stock exchange data.
Most of the bids came at Rs 365.26 per share, slightly higher than the floor or minimum bid price of Rs 365. At this price, subscription of over 1.06 crore shares totalled over Rs 580 crore.
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