HIDCL Promoter Shares Auction: Only 15.95% Shares Sold; Remaining Shares to Be Re-Auctioned

Hydroelectricity Investment and Development Company Limited (HIDCL) had opened the bids received in the auction of its unclaimed right shares on Ashad 24 (Friday). Global IME Capital was appointed the auction manager for the auction. Bids were opened on Friday at the premises of the auction manager, starting at 8:30 am.

The auction had opened on 5th Ashad and concluded on 19th Ashad, 2079 at the end of banking hours. 3,30,00,000 unit promoter shares were auctioned. Individuals, institutions, and companies were all eligible to bid for the auction.

Rs. 100 is the minimum bid rate for 3,30,00,000 promoter shares. The minimum bid quantity is 100 unit shares, while there is no limit for the maximum bid quantity.

According to the auction manager, Around 52,65,878 units (15.95%) were sold out of 3,30,00,000 units. The cut-off rate stood at Rs. 100 whereas the maximum bid rate is Rs. 305. 

The remaining 2,77,34,122 shares will be re-auctioned again.

The shares will trade as promoter shares under the HIDCLP.