Book Closure Date Declared for 1: 1 Right Shares of Hydroelectricity Investment and Development Company (HIDCL)

Hydroelectricity Investment and Development Company Limited (HIDCL) has declared the book closure date for its rights offering. Jestha 28 is the book closure date. Thus, investors maintained before that day are eligible to apply for the shares.

The 1:1 rights proposal of the hydropower company has already been approved by SEBON.

HIDCL convened its 9th AGM on Poush 29, i.e. January 13. The company had informed that the issue of the right shares of 11 crore units will open immediately after the company receives the credit rating and promoters submit the necessary amount. HIDCL had also initiated discussions with other promoters to bring the issue of the right shares to fruition.

The application was submitted to the regulatory board on Chaitra 12, 2077. SEBON approved the proposal on Jestha 09, 2078. As of writing, HIDCL has an LTP of Rs. 569.

The hydropower company has published the unaudited quarterly report for the third quarter of FY 2077/78. The net profit of the company decreased by 20.94% to Rs. 63.89 Crore from last year’s Rs. 80.82 Crore.

The company’s paid-up capital stands at Rs. 11.00 Arba with reserve and surplus of Rs. 1.57 Arba. The company has Rs. 5.50 Arba as call in advance is the amount received from GoN and is considered for diluted EPS, net worth per share, and total assets per share calculation.

The company has equity investments worth Rs. 35.65 Crore till Q3 and has issued loans to power projects worth Rs. 3.91 Arba till Q3. HIDCL has Rs. 11.65 Arba in term deposits with different banks. The basic EPS of the company on the corresponding quarter of the previous year was at Rs. 5.16. The quarter-end P/E ratio and net worth per share stand at 81.73 times and Rs. 109.55 respectively.