Nitin Fire Protection Oversubscribes 48 times

The IPO of Nitin Fire Protection Industries for which we had a subscribe recommendation was oversubscribed 48.48 times. Here is the breakup of subscription that we have obtained from the National Stock Exchange.

Institutional Quota was oversubscribed by 49.9106 times
High Networth Individual Quota was subscribed by 101.32 times
Retail Individual Investors Quota was subscribed by 30.297 times

All retail applications for 1 Lakh will be allotted in the ratio of 1:2. Grey Market Premium is Rs 45 as of Saturday. Good Luck!