Naukri IPO Oversubscribed 3.34 Times On Day One

Day One of Naukri.com IPO has been successful. The issue has been oversubscribed 3.34 times today, the first day of the IPO subscription. The issue is open till November 2. The IPO has been mainly subscribed by qualified institutional subscribers (QIB) with very little participation from retail and non-instititional subscribers. In fact, the FII category has been oversubscribed 6.17 times. According to sources, the initial days of an IPO are usually dominated by institutions. Retail investors usually join in at the end of the subscription period.
So we have to wait and see how retail investors are looking at an internet company.
National Stock Exchange has details of IPO subscription here.

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