Hydroelectricity Investment and Development Company (HIDCL) calls AGM; What happened to the 100% Right shares issue?

Hydroelectricity Investment and Development Company Limited (HIDCL) has called its 9th AGM on Poush 29, i.e. January 13. The meeting will be organized in the company's office in Hattisar, Kathmandu, starting from 11 am that day. The meeting will be streamed online for investors.

Among other agendas, the AGM will decide on the election of a board member representing the public investors. The book closure date is announced on Poush 17. Thus, investors maintained till that day can attend the AGM.

Furthermore, HIDCL has kept investors updated on the issue of the right shares endorsed by the company's 7th AGM. Of the issue of the right shares of 11 crore units, the company has stated that the issue will open immediately after the company receives the credit rating and promoters submit the necessary amount.

As of now, the company has stated that a total of Rs. 5.5 Arba has been collected from the 50% promoter shareholders. Rs. 2.2 Arba has been collected from GoN, Ministry of Finance, Rs. 1.1 Arba from the Ministry of Energy, Water Resources and Irrigation, and Rs. 1.1 Arba from the Ministry of Law, Justice and Parliamentary Affairs.

HIDCL has also initiated discussions with other promoters to bring the issue of the right shares to fruition.