Reliance Spinning Mills’ mutual fund IPO was oversubscribed 18 times. Of 57,798 units allocated for mutual funds (5% of the total 1,155,960 units), 45 schemes applied but only 41 received shares. Applications totaled Rs 759 million, far exceeding the required Rs 47.4 million, leading to a refund of Rs 711.6 million. The cut-off price for institutional investors was Rs 912, while the public issue price was Rs 820.80 per share.
