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BEML Subscription and Allotment

July 4, 2007

The IPO of BEML was oversubscribed 30.65 times according to a release from National Stock Exchange. Here is the breakup.

Sr.No. Category No.of shares offered/reserved No. of shares bid for No. of times of total meant for the category
1 Qualified Institutional Buyers (QIBs) 2205000 139654750 63.3355

2 Non Institutional Investors 661500 5604055 8.4717
3 Retail Individual Investors (RIIs) 1543500 4930965 3.1947

The individual investors retail portion of the issue was subscribed 3.1 times. So any retail investor applying for 20 or more shares will get firm allotment of 5 shares. Even if you have applied for 15 shares, your chances of allotment are very high.

[Don’t look for grey market because BEML is already listed and Current Market Price of BEML is Rs 1239]

Update:
BEML issue price has been fixed at Rs 1,075 for 49 lakh shares in the FPO [Follow on Public Offer]

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