On BSE, the QIB quota was subscribed 0.22 times, non-institutional investor 0.07 times and the retail quota 0.71 times.The company has fixed 50 per cent quota for qualified institutional buyers (QIBs). The remaining 35 per cent quota has been kept aside for retail investors. NEW DELHI: The Rs 1,040 crore initial public offering (IPO) of Mahanagar Gas received good response on Tuesday, with the issue sailing through on Day 1 itself.Data showed that the issue received bids for 1,88,19,255 shares, 1.08 times the total size of 1,73,46,150 shares.On NSE, QIB quota was subscribed 1.59 times, non-institutional investor quota 0.15 times and retail individual investor quota 0.37 times. Non-institutional bidders will be issued not more than 15 per cent of the issue size. IIFL said that while domestic PNG customers are sticky, industrial and commercial customers do switch between alternate fuels.

Source: Economic Times June 21, 2016 05:38 UTC