1: 1 Rights Issue of HIDCL Finally in SEBON's Pipeline

SEBON has finally added the 1:1 rights proposal of Hydroelectricity Investment and Development Company Limited (HIDCL) in its pipeline.

HIDCL convened its 9th AGM on Poush 29, i.e. January 13. The company had informed that the issue of the right shares of 11 crore units will open immediately after the company receives the credit rating and promoters submit the necessary amount. HIDCL had also initiated discussions with other promoters to bring the issue of the right shares to fruition.

The company has now submitted its application to SEBON to issue 11 crore units of right shares. The application was submitted on Chaitra 12. As of writing, HIDCL has an LTP of Rs. 432.