HIDCL Refunding Non-Allottees, Share Allotted at Rs. 225 Cut-Off

Hydroelectricity Investment and Development Company Limited (HIDCL) has allotted 32,29,794 units ordinary shares (unsold right shares) to the general public on 7th Kartik. The company is refunding money to non-allottees from 7th Kartik, 2078.

The auction manager had opened the bids received in the auction of the company's unclaimed right shares on Ashoj 22. Global IME Capital was appointed the auction manager for the auction.

The auction had opened on 7th Ashwin and concluded on 14th Ashwin at the end of banking hours. 3,30,00,000 units promoter right shares and 32,29,794 units ordinary right shares were auctioned. This was the quantity unclaimed by eligible shareholders in the rights issue. Individuals, institutions, and companies were all eligible to bid for the auction.

Rs. 100 was the minimum bid rate. The minimum bid quantity for the promoter right shares was 1 crore units and the minimum bid quantity for ordinary right shares was 100 units.

According to the auction manager, Rs. 225 is the cut-off rate for the ordinary shares. Those who bid at Rs. 225.10 have got the quantity they asked for, and those who bid at Rs. 225 have been allotted proportionately. Meanwhile, no bids were received for promoters shares.

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