Reminder: Last Day of Auction of HIDCL's 2,32,04,485 Promoter Shares
Hydroelectricity Investment and Development Company Limited (HIDCL) is closing the auction of its remaining 2,32,04,485 unit promoter shares to the general public from today i.e. 4th Ashwin, 2079. The auction was open from 20th Bhadra.
Earlier, the company had auctioned 27,809,480 unit promoter shares to the general public from 15th Shrawan to 29th Shrawan, 2079. Since only 46,04,995 unit shares were sold, the remaining unit shares were re-auctioned to the general public from Bhadra 20.
In total 97,95,515 units of promoter shares were sold out of 33,000,000 in the auction of HIDCL.
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, HIDCLP has an LTP of Rs. 97.2.
The shares will trade as promoter shares under the HIDCLP category once allotted to the successful bidders.
