Hydroelectricity Investment and Development Company Limited (HIDCL) is concluding its auction of 16,859,050 promoter shares today, 6th Bhadra, 2081. The auction, which began on 29th Shrawan, 2081, marks the final opportunity for investors, companies, and institutions to acquire these shares.
Previously, HIDCL had offered 33 million promoter shares to the public between the 5th and 19th of Ashadh, 2079. However, only 4,604,995 shares were sold during that period. In a subsequent re-auction from 20th Bhadra to 4th Ashoj, 2079, only 1,007,170 shares were sold out of the remaining 23,204,485 shares.
Despite further efforts to auction the unsold shares between the 22nd of Magh and the 8th of Falgun, 2079, only 4,357,185 units were sold from the remaining 22,197,325 shares. Another re-auction took place from 25th Chaitra, 2080 to 9th Baisakh, 2081, but it saw the sale of just 981,090 units. This led to the final auction of the remaining 16,859,050 units, which ends today.
The promoter shares already listed on the Nepal Stock Exchange (NEPSE) amount to 16,140,950 units. The ongoing auction, managed by Global IME Capital, requires a minimum bid of Rs. 100, with a minimum purchase of 100 units. There is no upper limit for the number of shares that can be purchased.
As of now, HIDCL’s last traded price (LTP) is Rs. 297.00, while HIDCLP, the category under which the auctioned shares will be traded, has an LTP of Rs. 149.20. Investors who secure shares in this auction will see their purchases listed as promoter shares under the HIDCLP category once allotments are finalized.