HIDCL IPO update: Oversubscribed by 21.58 times, Rs 43.17 arba collected from more than 2.5 lakh applicants
Wed, Dec 2, 2015 4:21 PM on Latest, Exclusive, IPO/FPO News, Featured, Stock Market,
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.
Niraj Giri, Spokesperson of Securities Board of Nepal said, “The total collection of the IPO stands at Rs 43 arba 17 crore 35 lakh, and 18 thousand. ”
Anuj Rimal, an Officer with SEBON, said, "More than 2.5 lakhs application forms have been received."
HIDCL IPO saw overwhelming response from all kinds of investors even when the country is going through one of the biggest crisis our generation has seen. This IPO gave an opportunity for the highest investment in terms of amount. So, the enthusiastic participation from institutional and retail investors made this IPO , the biggest one in terms of amount collected and the number of applications.
If the final number of application remains below 3 lakhs, the IPO will be allotted within 60 days. The money will be refunded to the non-allottee investors from 65th day.
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.
The authorized and issued capital of company is Rs 50 arba and Rs 10 arba respectively. The Paid up capital of the company remains at Rs 8 arba. After the IPO, the paid up will reach Rs 10 arba. The net profit of last fiscal year stands at Rs 43.34 crore. HIDCL projected net profit for the fiscal year 2072/73 is Rs 56.03 crore.
ICRA Nepal has assigned ‘(ICRANP) IPO Grade 3’ to the IPO of Hydroelectricity Investment and Development Company which means that the offering holds average fundamentals.
HIDCL IPO Allotment Prediction: Small investors to get MINIMUM of 8%, more likely 10%,Big Investor to get 4.55% at most; up to Rs 12,000 under lottery HIDCL IPO breaks all sorts of records; biggest collection ever, oversubscribed by 17.5 times, Rs 35 arba collected from 2 lakhs 10 thousands applicants
