HIDCL To Close Auction of 2.21 Crore Units Promoter Shares to the General Public and Institutions From Today
Hydroelectricity Investment and Development Company Limited (HIDCL) is closing the auction of its 2,21,97,325 units promoter share from today i.e. on 8th Falgun, 2079. The auction was open from 22nd Magh.
Earlier, the company had auctioned 3,30,00,000 units of unsold promoter right shares to the general public from the 5th Ashad to the 19th Ashad. Out of 3,30,00,000 unit promoter shares only 1,08,02,675 unit shares have been sold in total and the remaining 2,21,97,325 units were again auctioned from Magh 22. Note that the 1,08,02,675 unit promoter shares have already been listed in NEPSE.
Existing promoters, individual investors, companies, and institutions are all eligible to bid for an auction. Rs. 100 is the minimum bid rate. The minimum bid quantity for promoters’ shares is 100 units. Although bidders can bid for the entirety of the issue, they are required to abide by the Nepal Rastra Bank's rule not to exceed the specified quantity of shares per entity.
Global IME Capital is appointed as the auction manager. As of writing, HIDCL has an LTP of Rs. 199.
The shares will trade as promoter shares under the HIDCLP category once allotted to the successful bidders. HIDCLP has an LTP of Rs. 103.80.
