HIDCL IPO allotment within next week

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    The allotment of shares under the Initial Public Offering (IPO) of Hydroelectricity Investment & Development Company Limited ( HIDCL ) will be conducted next week.

    Sushil Kumar Aryal, Deputy CEO of Citizen Investment Trust said,“the allotment is likely to happen on Poush 21 or Poush 22.

    The allotment will be conducted within 25th Poush, he added.

    Hydroelectricity Investment & Development Company Limited (HIDCL) had floated its Initial Public Offering (IPO) worth Rs 2 arba (2 crore units shares) from Kartik 12 to Kartik 19, 2072.

    The IPO has been oversubscribed by 21.58  times.

    The company had issued total 2 crore units of ordinary shares at face value of Rs 100. The company has allocated 10 lakhs units shares for the six mutual funds, 4 lakhs units shares for the staff members of HIDCL and 1 crore 86 lakhs units for general public.

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

    Source: ShareSansar