MOIL IPO subscription oversubscribed 29 times

On the one hand, the IPO of Claris Lifescience Ltd. got extended with price band reduced by 20% i. e. the original price band of Rs. 278- 293 to Rs. 228- 235. Despite this, the issue got just around 43% subscription till November 30. Thus pricing greed has once again surfaced and the lead manager's team has failed in its expertise to guide the promoter on pricing issues.

But, MOIL issue was oversubscribed to the tune of 29.10 times with QIB subscribed 49.16 times, HNI 8.77 times, Retail 10.86 times and Employees 0.20 times. This week we had two issues that included SCI and One 97 Communication Ltd.

Due to market turmoil, One 97 has announced delaying its IPO by 12 days and has not yet decided on the price band.