MOIL IPO Allotment Status (Update)
Update: I apologize for the error in this post where I opine that almost everyone has been allotted 1 lot; I spoke to a few people yesterday, and drew my conclusion from those conversations.
However, as is evident from your comments many of you didn’t get any shares. I am sorry about the error, and realize that I should have waited to get information from more people before publishing.
The MOIL IPO Allotment has been done today, and I think that everyone has been allotted 1 lot of 17 shares regardless of the quantity they applied for.
I say this based on the amount of money debited from the bank account. If you have applied for the MOIL IPO then please check your bank account, and I think it is quite likely that you see Rs. 6,056.25 debited from your bank account.
This means that you got 17 shares at the unit price of Rs. 356.25 (after 5% discount on Rs. 375).
Please leave a comment about the number of shares you applied for, and the money debited from your account, as that helps guess the ratio for future issues.
It is only apt that I highlight a comment made by Loney here earlier who accurately described what to expect in such cases where the over-subscription is reasonably high.
I think you should not have withdrawn the application. You should have applied for the minimum lot of 17 shares. Because, Karvy and NSE which will finalize the allotment has this particular habit of allotting shares even to people who bid for the minimum lot at the expense of people who apply for the maximum lot size within the limit. Therefore there was a probability that you were alloted 17 shares even if you subscribe for just one lot.
Thanks Loney!
I have not been alloted a single MOIL share..my first time in the market and yeah i came back empty handed 🙁 …but not a problem i am habitual to such situations..hope Karvy people will allot me some SCI shares..are you listening guys 🙂
This is strange, so what happened the lien on your money got released? All of it?
Yeah…complete lien amount is back…one good thing which happened yesterday… 🙂
You are not alone MS. I got a big nought too. This happens in all highly oversubscribed issues. As I am saying time and again, the idea of increasing the retail limit to Rs.2 lakhs is not in the interest of small investors and in all future issues where the issue size is small to medium, retail investors will get only binary number of lots allotted.
With regards to SCI, since the oversubscription is not too big, you can certainly expect allotment.
Hi Loney,
I completely agree with you. The Rs 2 Lakh limt is a very bad decision taken by governement. It has become very tough for small investor now to come in the IPO market and get benefited as you rightly said that every good IPO now be so heavily subscribed and people will not get anything out of it.
but my point is, what are we doing from our side, so that goverment can review their decision. Are we as an individual providing feedback in right forum at right pitch of the voice. I wish, that if I could form a group of volunteers, who could preapare a letter, voice our opinions, and sent individully to govt/SEBI against this limit.
Not sure, it will work, but at least we register our protest.
Regards
Mradul Sahney
I guess the allotment basis published here is true :
http://indiaer.blogspot.com/2010/12/moil-ipo-allotment-ratios-and-basis.html
I applied for 15 lots and got 17 shares.
Perfect. I think that explains the right methodology.
Regards
Raja
This is strange, so what happened the lien on your money got released? I have allplied for 31 lotss .What can i do?
This is strange, so my lien on money got released? I have allplied for 31 lotss .But i dont get any share.What can i do?Where i register my complaint.
I’ve applied two applications, 1 full (527 shares) and other for 493 shares but got only 1 lot in each. Due to this increase in retail limit and good issues oversubscribing much, I think there’s not much stem left in IPO game.
– Jagbir
Hi I had applied for 15 lots =255 shares through my online broker without ASBA.
I have not got any intimation of allotment yet nor is my bank account credited with refund money….Any idea why this is getting delayed..
Hi Meetali…Karvy website has updated info on the MOIL IPO allotment…link http://mis.karvycomputershare.com/ipo/ …All the best
MEETALI,
u have not recd any allotment.
Thanks..
I checked at the karvywebsite. I have received allotment of 17 shares..
However, one of my friends who inspite of applying for 408 shares i.e 24 lots did not receive a single share….Does anyone know the basis of allotment of shares
Hey Meetali, MOIL was priced at upper end. I assume your friend did not get any share, because he/she might have applied at lower band.
Yes my DH also got none but I got one lot.
The issue size being moderate and demand being high, it was obvious that luck would play a big factor in getting some shares. I went by the oversubscription figures and applied for 425 shares (25 times the lot). Was lucky to get 17 shares. It was worth the chances taken.
Hi i applied for 255 shares i did not received a single share
Hi,
I applied for20 lots and got none.
Rgds
First of all I must say.. increasing the limit to 2 lakhs was a bad idea.. without increasing the share of retail investors from 35% to 50%. It seems every one has got one lot (17 shares) only.
@ Meetali : why on earth would you invest without ASBA.
Here is a link for understanding the basics of investing in an IPO. It explains the basic concepts : http://www.rediff.com/getahead/2006/apr/04ipo.htm
Happy investing.
SEBI PLEASE increase the limit for Retail investors to 50% of medium sized IPO. Half of the retail investors exit and institutions buy the shares any ways on listing.
Thanks for the link
Well, I did not invest thorough ASBA because I applied online through Sharekhan which requires you to transfer the entire amount of application into your IPO account.
Can you tell me the procedure and the site through which one can apply through ASBA.
Thanks
I applied for 4 lots from my sharekhan and 4 lots from ICICI demat.
I was alloted 1 lot in sharekhan DP and none in ICICI.
I applied for 10 lot …170 shares ….got “ZERO ” & the sad thing is that , the lien is also
not removed till now
Which bank is it?? Please wait till Monday EOD..otherwise please flag it with your bank…
Even I had applied for 17 shares but bad luck this lottery 🙁
me also apply for 17 shares……but status : sorry no allotment for you……….ok,allright ,god is great
Applied for 255 shares but got only 17.
Refund has come.
From next time i will wait till the last day of issue and based on the subscription factor apply for limited shares.
My money was stuck for no reason for these many days.
applied for 117 . Got ZERO !!
yup – 17 shares for me too.
I had applied for the maximum shares one could apply for and got only the 17 shares. perhaps people who applied for smaller numbers were not allotted any – could this be the basis?
It’s really sad to hear that so many people did not get allotment of any shares despite applying for lots in good numbers. It all because of unexpectedly high subscription due to the mad rush after stellar listing of Coal India.
The probablity of allotment for application of different lots is shared below. For those who could not get shares, better luck next time.
Lot Sh Applied Allotted Sh Ratio Of Allotment Probabilty of Allotment
1 17 17 1 out of 31 3%
2 34 17 3 out of 47 6%
3 51 17 2 out of 21 10%
4 68 17 6 out of 47 13%
5 85 17 6 out of 37 16%
6 102 17 6 out of 31 19%
7 119 17 7 out of 31 23%
8 136 17 8 out of 31 26%
9 153 17 9 out of 31 29%
10 170 17 10 out of 31 32%
11 187 17 6 out of 17 35%
12 204 17 13 out of 34 38%
13 221 17 13 out of 31 42%
14 238 17 15 out of 34 44%
15 255 17 9 out of 19 47%
16 272 17 1 out of 02 50%
17 289 17 19 out of 35 54%
18 306 17 20 out of 33 61%
19 323 17 8 out of 33 24%
20 340 17 7 out of 11 64%
21 357 17 2 out of 03 67%
22 374 17 22 out of 33 67%
23 391 17 8 out of 11 73%
24 408 17 29 out of 38 76%
25 425 17 26 out of 33 79%
26 442 17 43 out of 53 81%
27 459 17 28 out of 33 85%
28 476 17 51 out of 58 88%
29 493 17 10 out of 11 91%
30 510 17 31 out of 33 94%
31 527 17 49 out of 50 98%
No Manshu,
This doesn’t seem to be right. I think we need to dig deeper on this allotment topic.
As far i understand the logic, it should be something like this. For people who have applied for 2 lacs they have got an allotment of 17 shares for sure. No role of probability here.
For people who have applied for anything less than that amounts, a different selection method based on some sort of lottery system has been applied. so, probability has come into picture.
For instance, people who have applied for 1 lac, probably 1 in every 2 persons has received the allotment.
Similarly people who have applied for say 50k, every 1 in 4 has received allotment for 17 shares. For people who have applied for 25k every 1 in 8 has received the allotment. and so on… with very less probability of getting allotment for people who have applied for just one lot.
I say this based on my past experience of power grid allotment and now MOIL allotment.
This time I had applied for 1.2 lacs each from 2 different accounts(Me and my wife). And have got 17 shares in 1 where as NIL in the other. So, in my case probability played out very evenly. If i had got allotment in both i would have been lucky. Whereas if i had got NIL in both the accounts, my strategy would have surely backfired.
So, in future i’ll apply in 2 different account only if am feeling lucky, whereas in single account if am not feeling so lucky 🙂 Assuming i have only 2 lacs to apply.
Regards
Raja
You’re right Raja – I spoke to a couple of people yesterday, and jumped the gun reaching the wrong conclusion.
I had applied for full lot but didnt even received 17 shares. I had applied online with ASBA facility. Difficult to predict Karvy’s allotment process.
One person I know, applied 2 full applications (2 lakh each) through his own and wife account but got shares only in for one application, nothing for second application, so there are people got no shares even with full application.
–
Jagbir
Applied for 306 shares.. Didn’t get a single share 🙁
I have been alloted 17 shares too. Sort of disappointed 🙁
as the others have pointed out, your hypothesis is incorrect. i had applied for two lots, but got an email today that i haven’t been allotted anything.
the refund hasn’t come in yet either.
Yes, Aditya, and I apologize for my erroneous hypothesis.
come on, there is no need to apologize. you are not “god” and hence cannot be infallible 🙂
i’ve been following your blog since a while and have benefitted a lot from your excellent analyses. so let me also take this opportunity to thank you.
Your thoughts are much appreciated!
MOIL issue has come and gone leaving most people unhappy. Many did not get any shares and others got too few shares not worth their efforts!
what do we learn from it?
a. should we stop subscribing in IPOs?
B. Should we limit our subscription to 1 lakh re
C. should we continue with 2 lakhs, hoping we
may be lucky to get more shares?
I have applied for 34 shares only, but nothing I got.
I don’t know the system they adopted for allotment of MOIL IPO. So many of my friends have applied more than 200 shares, but they too do not got any share allotted.
Any guess about the allotment details?
Applied for 19 lots got 1 lot
Congratulations to those who got allotment!
1. In India, the retail participation is capital markets is very small.
2. A separate quota for retail investors was introduced with the aim that large investors should not block out allotment to small investors.
3. The retail participation in IPOs got reduced by the after-effects of the Reliance Power mania and the depression that followed.
4. This was further reduced by the greed of investment bankers who priced their issues very high in a way that the price cannot be explained on the basis of the fundamentals.
5. At this juncture, the Govt. decided to go in for fiscal consolidation
6. It decided to divest its holding in worthy PSUs.
7. Two of the Govt.’s public issues failed to lure investors (OIL, NHPC) and had to be rescued by LIC
8. C.B.Bhave lashes out at merchant bankers and asks them to price their issues sensibly thereby leaving something on the table for investors to get investors into IPO.
9. Govt. decides to price their issues attractively and also decides to give a 5% discount to retail investors.
10.COAL India IPO got tremendous response due to the attractive pricing mechanism adopted by the Govt.
11.Govt. wants SEBI to increase the retail limit to Rs.2 lakhs so that none of its issues would go down-under.
12.Power Grid FPO is a huge success.
13.Govt. pressurises SEBI to increases the retail limit.
14.SEBI increases the retail limit to Rs. 2 lakhs
15.Attractively priced MOIL issue comes after the huge success of PSU offers like COALINDIA and POWERGRID.
16. Investors rush to the issue leading to huge oversubscription.
17.Only 3% of the applicants to apply for the minimum lot gets allotment.
18. Only 50% of the applicants to apply for Rs.1 lakh get allotment.
19.The allotment is near 100% for applicants who apply for Rs.2 lakh.
20.Now Read points 1 and 2
I now leave it for open discussion.
very interesting analysis. in fact in this context, probably the mechanism that manshu (incorrectly) thought was being used for the moil allotments would have been the fairest.
I have applied for 442 shares but not a single share allocated to me 🙁
Lets move from MOIL (MOIL was a real ‘spoil’ for many of us) to P&S…Yes people its time for Punjab & Sind bank…The sale will open on 13 December and close on 16 December..The bank plans to sell around 40 million shares in an initial public offering (IPO). Retail investors will be sold shares at a discount of 5%. The government will dilute around 18% of its holding in the bank. The price band has been fixed between Rs 130 to Rs 120 per equity share for each share having face value of Rs 10 each..Lot size is 50..CARE has assigned 4/5 to the proposed IPO…Manshu please start new thread for P&S and lets hit the discussion..
Sorry MS – I have some travel and vacation planned from now on to the end of the year, and I won’t get the time to go through this prospectus – there are some post ideas on the Suggest a topic page that I have to get first, and the posting will get a little light for some time.
allotted 17….. applied 527….
hope it may be opened at rs.600 on 15th.. after allotment v should focus on listing..
I had applied for 4 lots, thru’ HDFC Securities; The order is showing status as “Executed”, which means there was no error in the application;
I had applied at CUT-OFF price, which (I thought) guarantees that I’d get at least 1 lot (I had discussed this question with you guys in older MOIL post also)…
(https://www.onemint.com/2010/11/27/moil-ipo-subscription-numbers/)
BUT… I didn’t get any allocated 🙁 🙁
Sayantani – As you’ll see – you’re not alone and there are plenty of people who didn’t get anything despite applying for a much larger quantity than yours.
I had said in my earlier comment to you that if you apply at the cut – off you will get something, and I apologize for my mistake. AT that time I didn’t realize that the over – subscription is so much that they won’t be able to allot just one lot to everyone who applied.
The demand for this was just too high, and once I again I apologize for the mistake in my earlier comment to you.
It’s ok 🙂 I just read about the logic they applied for allotment… and I think it was the most logical thing they could have done!
I had applied for 11 lots and got 1 lot alloted….
Hi Friends,
I have applied for 517 shares (i.e. full quota of Rs. 2 lacs) for me alloted 1 lot of 17 shares.
The allotment has been done and 17 shares have been allotted to retail investors who bid for full quota of Rs.2 lakhs. Many smaller bids didn’t receive any allotment). This allotment will be decided by MOIL in consultation with the stock exchanges, Registrar and the Book running lead managers in order to be fair and equal.
I am expecting the share price on listing data it may cross Rs. 700 plus….
please share your comments with me…I am waiting for your reply…
For those who are not alloted any shares dont worry…in short period lot other good ipo’s ahead….
Thank you….have a nice day friends….
Kishore – You will find better luck in discussing these type of short term punting targets at sites like Chittorgarh, and Moneycontrol messages where there are plenty of forums for these type of discussions.
No one knows how a stock will open or close or whatever on a certain day, but that doesn’t stop people from idle speculation. To me, that’s not a useful thing to do with anyone’s time.
Applied for 204. Got none.
I’d applied for 272 and got none.
I appled for 527 shares and got 17 shares.
Manshu,
Have been reading your blog for a very long time, but first time commenting here.
I’m pretty saddened by this allotment too… had applied for 221 shares (13 lots) thru ICICI direct and my application status was showing as “executed” and “accepted”. After reading your blog, went and checked Karvy’s IPO allotment site and was hugely disappointed to see not even one single share allotted!!
What’s the point of enticing the retail investors when we end up getting nothing and the money getting blocked for so many days expecting an allotment. Time for govt. to rethink their strategy i guess…
It’s a play of demand & supply Krish, and though I can understand your sense of disappointment – one should not lose the forest for the trees.
In the bigger picture where your retirement is say 30 or 35 years away or a child’s education expense that’s 10 years away – boring concepts like saving, and investing in SIPs etc. will build more wealth than getting a position of 17 shares which total to roughly 6,000 bucks or something.
So, yes, I feel that there is going to be some sense of disappointment, but in the bigger scheme of things, I hope you and others don’t get overly worked up, and start applying for IPOs that don’t have good strong fundamentals, or it will be like a Reliance debacle from some years ago.
I have applied for 527 Share thru Icicidirect,got only 17 Shares.
Whether anyone know,On what basis, they allocated the shares
I applied in my a/c for Rs 197625 for 527 shares and with my wife a/c 95*** Rs. But I got 17 shares each in both a/c.
got 17 shares of application of Rs. 2 Lakh
I have applied for 12 lots. But I did not even get single lot which are equal to 17 shares.
I got my total money back. I don’t know why what u said is different
Whooaaa…I applied for 4 lots and end up getting 1lot of 17 shares…I always wanted to own shares of MOIL….and btw this is my first IPO investing…I am happy today!
I applied for 170 shares…dint get a single one. i agree that the 2 lakh limit was supposed to have retail investors get more shares, but if hte retail allotment peice is so small ..what is it worth it. Rs 1 L shares of a single company is actually quite large and not sure of how many small investors can shelve that out!!!
It is nothing to compare with the price band or number of shares applied for !!
Just it is a luck !!
I applied for 6 lots & got one lot. thats means I m relatively very lucky. but today how sharply the price fell from 590 to 460 was unbelievable. must be done by operators. I m still holding the shares & now i feel very frightened yar
Dear Sir,
I had applied for MOIL shares for full quantity i.e.527 shares and paid by cheque for Rs.197625.00 which was debited from my account on 4dec 2010. but to my surprise no shares have been allotted to me neither i have got the refund yet i.e till EOD 15th Dec.2010. Can u advise on the course of action to be taken ,since i spoke to the registrar to the issue ( Karvy) on 14th and 15th dec and have not got any satisfactory reply to my query.
thanks and regards
Any one recive refund of MOIL IPO
hello sir,
I applied for moil ipo worth rs 45000 but its not alloted, now my money is not refund till. why ? Iam a middle class man so very affarid about my money
People have got the refund a long time back, so please get in touch with your broker and Karvy immediately to get to know about your refund.
Hi Manshu,
I promised you I’d get back with a response from Karvy / my bank of 0 allocation in MOIL. The bank simply told me that not everyone has got shares :/ So yup, you’re right!
Wow Bhavana – I’m really impressed, and grateful to you for not forgetting. I must admit I would’ve not been so diligent myself – thanks a lot!
But i have applied for 10 shares and my bank account debited Rs 3675.92