I am not sure if Finance Minister P Chidambram is awake @ 1:00 AM on Feb-7th, but if he is, he would probably be celebrating the confidence FIIs have in his economic policies. I just received the final SMS which said the recently concluded IPO of Power Finance Corp is subscribed 77.24 times.
Foreign Institutional Investors have bid for a whopping 5.68 Billion shares of PFC against the total offering of 117 Million.
The final subscription figures are as below.
| Sr.No. | Category | No.of shares offered/reserved | No. of shares bid for | No. of times of total meant for the category |
| 1 | Qualified Institutional Buyers (QIBs) | 57408350 | 7874596640 | 137.1681 |
| 2 | Non Institutional Investors | 17222505 | 840603600 | 48.8084 |
| 3 | Retail Individual Investors (RIIs) | 40185845 | 343103680 | 8.5379 |
All retail application bids for over 800 shares will get firm allotment of 80 shares. Going by this subscription rate I am wondering if I should apply for the smaller IPOs or not as fate of every application will be decided by lottery.