Bhugol Energy Allots IPO

Apr 16, 2023 04:11 PM Merolagani

Bhugol Energy has allotted a recently issued initial public offering (IPO) on Sunday, April 16 on the premises of NIC Asia Capital, the issue manager for the company.

As per the issue manager,  a total of 1,149,515 applicants have applied for 12,364,840 units of shares. The issue has been oversubscribed by 9.18 percent.

Given that the issue was oversubscribed, the allotment took place as per Securities Issuance and Allotment Guidelines. Based on this, only 134,699 applicants have been provided 10 units of shares. Additionally, three applicants among applicants were provided one extra unit of share.

Out of the total applicants, 104,855 applications were canceled.

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