Mackwoods Energy IPO oversubscribed

Mackwoods Energy Ltd.’s Rs. 350 million worth Initial Public Offering (IPO) was oversubscribed yesterday, the official opening day.

The company offered 25 million shares at Rs. 14 each.

The final subscription amount as well as the basis of allotment will be notified next week.

It was the second IPO for the year and was recommended as subscribe by most of the brokers.