After 4 months of allotment HIDCL distributes share certificate to more than 3 lakh applicants

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    Hydroelectricity Investment & Development Company Limited (HIDCL) is distributing IPO share certificate to its shareholders from today (Baisakh 27, 2073). It had floated 2 crore unit shares (worth Rs 2 arba) as part of its IPO shares.

    As per the notice published by the company today, the investors to whom the shares have been allotted can collect their share certificate from the collection center where they had submitted their IPO forms.

    Furthermore, the allotment advice slip along with identity card of the investor is mandatory to collect the share certificate. Letter of authorization along with photocopy of identity card of authorized person must be presented if the shareholders cannot pick up their share certificate themselves.

    The issue managers for the IPO are Citizen Investment Trust, NCM Merchant Banking Limited and NMB Capital Limited.

    Allotment of HIDCL IPO was done on January 13, 2016. Investors who had applied from Rs 9,000 or 90 units to Rs 50,000 or 500 units were allotted on an average of 11.4 % of the applied shares. The big investors who had applied above Rs 50,000 were allocated 2.9% of the applied shares.

    Applicants who applied up to 80 kitta got 10 units of shares, applicants who applied from 90 units to 500 units got at the rate of 11.2% and above 510 units got at the rate of  2.9%. Every valid applicant will get at least 10 units of shares.

    Source : Share Sansar