Motilal Oswal IPO Subscribed fully on Day 1

According to the Market Sources, Motilal Oswal Financial Services (MOFSL) IPO,  has received full subscription on first day, subscribed by 0.96 times.

Qualified institutional investors have helped the issue to subscribed fully. Their reserved portion subscribed 1.5 times.

The issue is open for subscription with an initial public offering (IPO) of 29,82,710 equity shares of Rs 5 each for cash at a price band between Rs 725 and Rs 825 per share with 100% book building process. The issue will close for subscription on August 23, 2007.

The company is going to raise Rs 216.25 crore in lower end of the price band and Rs 246 crore at higher band.

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