OIL India Limited IPO subscribed 1.27 times on the very first day

Oil India Ltd. IPO which is the second largest State Run Oil and gas company launches its IPO on Monday 7th september 2009. it was subscribed 1.27 times on the very first day. the price band of oil IPO set at 950-1050. Through this IPO the company will raise around Rs. 2,777 crore at the uppper and 2,512 crore at the lowar end.