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I think you should not have withdrawn the application.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!

76 thoughts on “MOIL IPO Allotment Status (Update)”

  1. 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!

    1. 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!

  2. 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

  3. 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

  4. 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

  5. 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!!!

  6. 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!

  7. 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

  8. I have applied for 527 Share thru Icicidirect,got only 17 Shares.
    Whether anyone know,On what basis, they allocated the shares

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