HIDCL IPO allotment tomorrow; IPO oversubscribed by 21.58 times

The Initial Public Offering (IPO) of Hydroelectricity Investment & Development Company Limited (HIDCL) will be allotted on Poush 29, 2072 (tomorrow). All the details regarding the IPO allotment will be made public tomorrow at 9:30 am at the premises of HIDCL, Babarmahal, Kathmandu.The office of HIDLC is in the same building of District Development Committee Kathmandu. 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.