Page 85 - ALEF EDUCATION PR REPORT SEPTEMBER 2024

NMDC Energy IPO 31.3 times oversubscribed

Share sale of UAE energy services provider generates total gross demand of Dh88 billion

by

Somshankar Bandyopadhyay

NMDC Energy provides integrated solutions in the energy sector, including engineering,
procurement, and construction services.

Published: Thu 5 Sep 2024, 3:52 PM

Last updated: Thu 5 Sep 2024, 9:38 PM

NMDC Group on Thursday announced the successful closing of the initial public offering (IPO) of
NMDC Energy, which was oversubscribed by 31.3 times excluding cornerstone. The offering
attracted exceptional investor interest, generating total gross demand of Dh88 billion.

The offering of 1.15 billion shares in NMDC Energy, representing 23 per cent of the total share
capital, was made available to eligible investors at Dh2.8 per share. The IPO saw outstanding

https://www.khaleejtimes.com/business/markets/nmdc-energy-ipo-31-3-times-oversubscribed