Millennium Housing closes IPO after first tranche of Rs. 96 m

Thursday, 30 January 2014 00:00 - - {{hitsCtrl.values.hits}}

Millennium Housing Developers Ltd. (MHDL) has decided to close its Initial Public Offering (IPO) following the oversubscription of the first tranche of Rs. 96 million. The IPO, first in 2014, involved the issuance of 16 million shares at Rs. 6 in the first tranche and a further equal amount in the event of an oversubscription aimed at raising Rs. 192 million. The final subscription amount will be disclosed shortly. Last morning soon after the IPO opened, MDHL said it had received 368 applications requesting 10.737 million shares worth Rs. 64.4 million.

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