Hydroelectricity Investment and Development Company Limited (HIDCL) has announced the auction of 1,68,59,050 units of promoter shares to the general public, companies, and institutions. The auction will run from 29th Shrawan, 2081 to 6th Bhadra, 2081.
Earlier, HIDCL initially offered 330,000,000 promoter shares to the public from the 5th to the 19th of Ashadh, 2079. Only 4,604,995 shares were sold from this offering, leading to a reauction of the remaining 232,044,485 shares from the 20th of Bhadra to the 4th of Ashoj, 2079. This time, only 1,007,170 shares were sold.
Subsequently, 221,973,325 shares were put up for re-auction from the 22nd of Magh to the 8th of Falgun, 2079, with only 4,357,185 units sold. Another reauction took place from the 25th of Chaitra, 2080 to the 9th of Baisakh, 2081, resulting in 9,81,090 units sold. Consequently, the remaining 1,68,59,050 units will now be auctioned from 29th Shrawan, 2081.
Of note, 1,61,40,950 units of promoter shares have already been listed in NEPSE.
Eligible bidders for the auction include the general public, companies, and institutions. The minimum bid rate is set at Rs. 100 per unit, with a minimum bid quantity of 100 units and no upper limit.
Global IME Capital has been appointed as the auction manager. As of now, HIDCL’s last traded price (LTP) is Rs. 264.10, while HIDCLP has an LTP of Rs. 129.40.
HIDCL has stated that once allotted, the shares will trade as promoter shares under the HIDCLP category.
