It is a financial agreement with a bank or a financial institution wherein an individual is permitted to withdraw money exceeding the funds in his/ her account. There is limit set upon the extent of funds that can be withdrawn from the bank as a part of the overdraft facility once the individual's balance reaches zero.
An IPO is said to be oversubscribed in case the demand for the shares of the company is much greater than the number of shares being issued out to the public.
"Knowing yourself is the beginning of all wisdom"- Aristotle -
QUOTE OF THE DAY