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Motilal Oswal Financial Services subscribed 1.96 times on day 1

Monday, August 20, 2007

Motilal Oswal Financial Services was subscribed 1.96 times on first day. It received total bids for 58.40 lakh shares as against 29.82 lakh shares on offer.

The qualified institutional buyers (QIBs) category was subscribed 3.33 times. The total bids in this category were 56.80 lakh share as against 17.04 lakh shares alloted for this category.

The non institutional investors category was subscribed 0.37 times. The total bids in this category were 1.05 lakh shares as against 2.84 lakh shares assigned for this category.

The retail individual investors catagory was subscribed 0.06 times. The total bids in this category were 53,704 shares compared with 8.52 lakh shares allotted for this category.

The company has fixed the price band between Rs 725-825 per share. The issue will close on 23 Aug 2007.

The company aims to deploy the IPO proceeds for expanding its business in organic and inorganic terms.

The company plans to grow its investment banking, private equity and distribution of third-party financial products. Broking and related services contribute 85-86% of its revenues.

Posted by FR at 10:40 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.