HIDCL to Auction remaining 27,809,480 Unit Promoter Shares to General Public from Shrawan 15
Hydroelectricity Investment and Development Company Limited (HIDCL) is auctioning its remaining 27,809,480 promoter share to the general public. The auction will open from 15th Shrawan and will conclude on 29th Shrawan, 2079.
Earlier, the company had auctioned 3,30,00,000 unit promoter shares to the general public from 5th Ashad to 19th Ashad, 2079. Since, only 51,90,520 unit shares were sold, the remaining 27,809,480 unit shares will be re-auctioned from Shrawan 15.
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. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.
Global IME Capital is appointed the auction manager. As of writing, HIDCL has an LTP of Rs. 199.
The company has clearly informed through the notice that the shares will trade as promoter shares under the HIDCLP category once allotted to the successful bidders.
