Rs. 319 m HVA Foods IPO draws Rs. 7.5 b demand

The Rs. 319 million Initial Public Offering of HVA Foods Ltd., had drawn a high demand worth Rs. 7.5 billion reflecting an oversubscription of 23.6 times.

The Registrars to the issue PW Corporate Secretarial Ltd.,

yesterday disclosed that the HVA Foods IPO had drawn 11,869 applications requesting for 471,630,300 shares. With the IPO issuing a 30% stake in the Company or 19.928 million shares at Rs. 16 each, the demand for 471.6 million shares reflect a 23.6 times oversubscription. Shares applied for was worth Rs. 7.5 billion.