Bungal Hydro Limited’s IPO has received an overwhelming response from investors. The IPO is about 14.85 times oversubscribed, meaning the number of applications far exceeded the shares available.
The company issued 1,701,500 shares to the general public from Bhadra 16 to 19. According to CDS & Clearing Limited, a total of 2,527,0260 shares were applied for by 2,253,254 investors.
The pre-allotment process was completed on Monday, according to Himalayan Capital, the IPO manager. Because of a public holiday on Wednesday, the final share allotment is expected to be completed on Thursday.
This strong response shows high investor interest in Bungal Hydro and confidence in the company’s future growth. Investors are now waiting to see how many shares they will receive from this highly popular IPO.
