Distribution of share certificates of HIDCL may start after a month at the earliest

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.

HIDCL’s IPO was the largest IPO offering in the history of Nepal. It also saw the highest collection ever.

The allotment of shares were done on January 17, 2016. The share certificates have not been distributed yet.

Narayan Prasahd Ghimere, Deputy Manager at Citizen Investment Trust said, “ It would take at least one month for the share certificates to be distributed.”

The share certificates are being printed, he added.

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.

In the history of Nepal, this is the first time where every valid applicants have got shares  and there is no lottery at all ! Every valid applicant will get at least 10 units of 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%.