Retail segment of COAL INDIA IPO was subscribed 2.31 times. If you have used Rs 98000 and bid at highest price band of Rs 245 (as I had advised), you have bid for 400 shares and you may expect to get 197-199 COAL INDIA shares at Rs 232.75 each...Rs 46000 approximately will be deducted from your IPO account / ASBA linked account and rest would have been refunded to your bank account by now.
Listing will happen on Nov 4th (tomorrow) and I am expecting that it will open near Rs 270 and can go up to Rs 300, which will give you a healthy gain of 26.3% in a few days, which is good. If you had not bid at the upper price band, chances of getting the shares allotted to you are less.
Those who had not subscribed to the IPO can pick up around 270-280 or below. Lot of industry houses like Reliance has bid for CIL shares, which is good for retail investors. Further good news is that the CIL script will be made part of NIFTY and SENSEX, which means FIIs and financial institutions are likely to go for it. CIL can easily scale to 350 in the next 3-4 months.
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