How to calculate retail subscription for an IPO?

Retail subscription is calculated as:

Number of Shares Applied/Retail Shares offered

For example, LG Electronics IPO reported 3.39x retail subscription means the IPO was subscribed over 3 times more than shares offered to retail investors.

• RII Shares offered: 3,55,61,796
• RII Shares applied: 12,06,14,143
• Retail Subscription = 12,06,14,143/3,55,61,796 Shares

= 3.39x

So, the issue received 3.39x subscription from retail investors.