As anticipated by millions of Indians and almost all the analyst, MOIL has given a very good listing gain. It has listed at 551 and traded above 500 most part of the day, but closed at 466.5 in NSE. It has reached the intraday high of 591.
The only problem with the MOIL was, even though the retail investors have subscribed for one full application (2 Lakh i.e., 31 lots) most of them are allotted with only 1 lot (17 shares). So even if retail investors have booked profit at 530 Rs, they have gained only around 175 Rs. With only 17 shares allotted, the overall profit is 17*175 is approximately 3000 Rs. With the investment of 2,00,000, profit of 3,000 doesn't sounds impressive.
Hence my conclusion about the allotment and listing gains of MOIL is not impressive.
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