Oil India IPO Updates And Subscription Status. Markets Remains Strong After Hitting 16k

08 Sep

Posted by Shyam as IPO Watch

Here are some updates on OIl India IPO. Oil India IPO which went public yesterday was fully subscribed within first 30 minutes of opening. It looks like many long term investors are still interested in IPOs after dismal performance of NHPC and Adani power IPO. Bankers revealed that the bids coming for OIL India IPO was mostly in the upper price band of Rs 1050.

Update :- Now you can check your OIL IPO Allotment and Subscription status here.Post if you have any queries.

By the end of the day on day 1, OIL India IPO was subscribed by almost 1.3 times as per NSE data. The strong financial position and good long term view of the company has attracted some investors to OIL India IPO. But it needs to be seen if OIL IPO can give the investors any listing gains on the opening day and if it is worth subscribing to the IPO offer. Adani and NHPC has already raised close to $1.9 Billion from the markets in the last 2 months. Today at the end of the day OIL IPO was subscribed 1.44 times. The expected listing date of OIL India IPO is on Sept 29th 2009.

Indian markets are on a roll since last few days. Sensex crossed the magical 16,000 mark yesterday and today gained another 107 points to close at 16,123 levels. Nifty managed to close above 4800 today signaling strength in the markets for now. The US markets are trading in green as of now. Traders need to remain cautious of the upward movement. in the markets.