HIDCL Reauctioning 3,30,00,000 Promoter Right Shares From Today
Hydroelectricity Investment and Development Company Limited (HIDCL) is auctioning its promoter right shares from today, i.e. Falgun 01. The auction will conclude on Falgun 15.
The company concluded the 1:1 ratio right shares issue on Bhadra 08, 2078. 11,00,00,000 units right shares were issued from 5th Shrawan. The hydropower company declared the book closure date for its rights offering on Jestha 28, 2078. Thus, investors maintained before that day were eligible to apply for the shares.
3,30,00,000 promoter right shares were unclaimed by eligible promoters. Thus, the same shares are now being auctioned. Note that the other 7,70,00,000 shares have already been listed in NEPSE.
Rs. 100 is the minimum bid rate for 3,30,00,000 promoter shares. The minimum bid quantity is 100 unit shares. There is no upper limit-a bidder can bid for the entirety of the shares.
Individuals, institutions, and companies are all eligible to bid for the auction. Global IME Capital has been appointed the auction manager.
