HIDCL to Auction 1,68,59,050 Unit Promoter Shares to General Public From 29th Shrawan 2081
Hydroelectricity Investment and Development Company Limited (HIDCL) is auctioning 1,68,59,050 units of promoter shares to the interested general public/company/institutions from 29th Shrawan, 2081 to 6th Bhadra, 2081.
Previously, the company initially offered 330,000,000 promoter shares to the general public from the 5th of Ashadh to the 19th of Ashadh, 2079. However, only 4,604,995 shares were sold out of the total offering. Consequently, the remaining 232,044,485 shares were put up for reauction from the 20th of Bhadra to the 4th of Ashoj, 2079. Subsequently, only 1,007,170 shares were sold out of this batch.
As a result, the remaining 221,973,325 shares were re-auctioned from the 22nd of Magh to the 8th of Falgun, 2079. Yet again, only 4,357,185 units were sold out of this batch. As a result, the remaining 1,78,40,140 shares were re-auctioned from the 25th Chaitra, 2080 to the 9th Baisakh, 2081. Yet again, only 9,81,090 units were sold out of this batch. Consequently, the remaining 1,68,59,050 units will be auctioned from 29th Shrawan, 2081.
Note that the 1,61,40,950 unit promoter shares have already been listed in NEPSE.
The general public, companies, and institutions are all eligible to bid in the auction. Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity is 100 units, there is no upper limit.
Global IME Capital is appointed as the auction manager. As of writing, HIDCL has an LTP of Rs. 264.10. Meanwhile, HIDCLP has an LTP of Rs. 129.40.
The company has informed through the notice that the shares will trade as promoter shares under the HIDCLP category once allotted to the successful bidders.
