MOIL IPO - Allotment Ratio

Manganese ore India Ltd created history by having enormous oversubscription. The HNI category (with investment of more than 2 lakhs per application), got oversubscribed by 140.92 times, where as the retail category got oversusbscribed by 31.59 times.

Today the shares allotment got over and the shares would be credited to your demat account by now. Due to heavy oversubscription, there was an allotment of 17 shares in for 'luckey' investors. Balance money would get refunded in two days time. For all other investors, the entire fund would be refunded.

For instance, in the table below, those investors who applied for only one lot (17 shares), one in 31 applications got an allotment of 17 shares. Similarly, for someone who applied for 102 shares (6 lots) six out of 31 applications got an allotment of 17 shares. And for the maximum number of shares @ 527 shares (31 lots), 49 out of 50 applications got an allotment of 17 shares. That is it.

In such a huge oversubscription, the chance of getting an allotment is very very meager. And the allotment rational is the decision of lead managers to the issue. Hence donot feel upset. Better luck next time.