Mackwoods Energy IPO gets 1.14 times oversubscription

The Rs. 350 million Initial Public Offering (IPO) of Mackwoods Energy Ltd. has been oversubscribed by 1.14 times.

It had received 523 applications worth Rs. 399 million. The IPO made available 25 million shares at Rs. 14 each.

Applications made via bank draft and cheques had amounted to 521 requesting for 21.3 million shares worth Rs. 298.16 million. There had been two applications with payment by bank guarantee requesting for 7.2 million shares worth Rs. 100.8 million.

Mackwoods Energy was the second IPO for 2012 and joins the rank of oversubscribed initial offerings.

Basis of allotment will be notified in due course.