Engro Powergen Qadirpur (EPQL) Shares Balloting Result

Engro Powergen Qadirpur offered 40 million shares to the general public last month. The balloting result for successful applicants has been declared by the Share Registrar of EPQL i.e. Famco Limited.

The shares were offered to all general public of Pakistan (Resident / Non Resident) at an offer price of Rs. 30.02. The response of public was over whelming and it has been over subscribed.

According to non official calculations, all applicants who applied for 500, 1000,1500 and 2000 shares will be considered successful while the remaining applicants will be allotted shares on pro rata basis.

All the major brokers and securities companies mentioned “Buy” for this scrip. This is the main reason why the IPO was over subscribed. Currently, the share price of EPQL is at 42.89 which represents an upside of 42.16% from its offer price.

epql pro

The range of trading will be between 42 to 48 as predicted by some of the stock gurus. The shares are already been under trade with scrip “EPQL-PRO”.

Muzammil Janjua, who is stock trader, has calculated as following:

  • Total No of shares offer for IPO : 40,475,000
  • Total No of Shares applied : 90,966,133

The statistics of number of shares applied against 500,1000, 1500 and 2000 shares are:

  • Total No of Shares Applied for 500 : 27,667,500
  • Total No of Shares Applied for 1000 : 9,722,000
  • Total No of Shares Applied for 1500 : 450,000
  • Total No of Shares Applied for 2000 : 1,200,000

Grand Total : 39,039,500

It means that applications up to 2000 shares for EPQL will be accepted without balloting and rest of applications will have to wait for ballot for approx 1.4 million shares.

EPQL balloting result has been declared quite earlier than expected. The shares applied for above and more than 200 have been allocated on proraion basis and the percentage is approximately 2.55%.

DOWNLOAD EPQL BALLOTING RESULT

epql famco letter

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One Comment

  1. umar says:

    Have the shares come in the KSE?

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