What role does QIB subscription play in an IPO?

QIB subscription shows how many times the IPO has been subscribed by Qualified Institutional Buyers (QIBs).

• It shows the overall demand from QIBs such as such as mutual funds, banks, insurance companies, FPIs, and pension funds.
• High subscription shows stronger demand from institutional investors. As a result, other non-institutional categories i.e., NII and retail also subscribed heavily.