HIDCL IPO Allotment happens as predicted by ShareSansar; Small Investor 11.4% ,Big Investor 2.9%, No Lottery every applicant gets share

Hydroelectricity Investment & Development Company Limited (HIDCL) has concluded its IPO allotment today at the premises of HIDCL, Babarmahal Kathmandu at 9:30 AM.

The allotment has happened as predicted by ShareSansar.com on November 10, 2015. The actual allotment is well within the statistical error of the predicted allotment.

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Investors who had applied from Rs 9,000 or 90 units to Rs 50,000 or 500 units were allotted on an average of 11.4 % of the applied shares. The big investors who had applied above Rs 50,000 were allocated 2.9% of the applied shares.

In the history of Nepal, this is the first time where every valid applicants have got shares  and there is no lottery at all ! Every valid applicant will get at least 10 units of shares.

Applicants who applied up to 80 kitta got 10 units of shares, applicants who applied from 90 units to 500 units got at the rate of 11.2% and above 510 units got at the rate of  2.9%.

HIDCL had floated Initial Public Offering (IPO) worth Rs.2 arba (2 crore unit shares) from Kartik 12 to Kartik 19, 2072. The IPO was oversubscribed by 21.58 times.

The issue managers for the IPO are Citizen Investment Trust, NCM Merchant Banking Limited and NMB Capital Limited.

The company has allocated 10 lakhs units shares for the six mutual funds, 4 lakhs units shares for the staff members of HIDCL and 1 crore 86 lakhs units for general public.

The authorized and issued capital of company is Rs 50 arba and Rs 10 arba respectively. The Paid up capital of the company remains at Rs 8 arba. After the IPO, the paid up will reach Rs 10 arba. The net profit of last fiscal year stands at Rs 43.34 crore. HIDCL projected net profit for the fiscal year 2072/73 is Rs 56.03 crore.

ICRA Nepal has assigned ‘(ICRANP) IPO Grade 3’ to the IPO of Hydroelectricity Investment and Development Company which means that the offering holds average fundamentals.

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