Bhagawati Hydropower Allots IPO

Sep 04, 2023 09:44 AM Merolagani



Bhagawati Hydropower Development Company has allotted recently issued initial public offering (IPO) today, September 4 in the premises of Siddhartha Capital, the issue manager of the company.

The company issued 712,220 units of shares at Rs 116 to the general public from August 22-25.  In the issue, a total of 1.3 million applications were received, out of which, 2,389 applications were canceled while 1,306,677 applications were approved.

Given that the issue was oversubscribed, the allotment took place as per Securities Issuance and Allotment Guidelines, under which, 71,222 applicants are provided 10 units of shares through lottery.




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