Auction Closing Day of Hydroelectricity Investment and Development Company 1,68,59,050 Units Promoter Shares

Hydroelectricity Investment and Development Company Limited (HIDCL) is concluding the auction of 1,68,59,050 units of promoter shares, which opened on 29th Shrawan, 2081, and will close today, 6th Bhadra, 2081.

Previously, the company offered 33 million promoter shares to the general public from the 5th to the 19th of Ashadh, 2079. However, only 4,604,995 shares were sold. The remaining 23,204,485 shares were re-auctioned from the 20th of Bhadra to the 4th of Ashoj, 2079, with only 1,007,170 shares sold.

The remaining 22,197,325 shares were then re-auctioned from the 22nd of Magh to the 8th of Falgun, 2079, but only 4,357,185 units were sold. Following this, 1,78,40,140 shares were re-auctioned from the 25th of Chaitra, 2080 to the 9th of Baisakh, 2081, with only 9,81,090 units sold. As a result, the final batch of 1,68,59,050 units will be auctioned until today.

It is important to note that 1,61,40,950 units of promoter shares have already been listed on NEPSE.

The auction is open to the general public, companies, and institutions, with a minimum bid rate of Rs. 100. The minimum bid quantity is 100 units, and there is no upper limit.

Global IME Capital is managing the auction. Currently, HIDCL has an LTP of Rs. 297.00, while HIDCLP has an LTP of Rs. 149.20.

The company has announced that the shares will be traded as promoter shares under the HIDCLP category once allotted to the successful bidders.