Hydroelectricity Investment and Development Company Limited (HIDCL) has allotted its 1:1 ratio right shares on 27th Bhadra. The company will refund the money to non-allottee investors from 31st Bhadra.
11,00,00,000 units right shares were issued from 5th Shrawan. The hydropower company declared the book closure date for its rights offering on Jestha 28. Thus, investors maintained before that day were eligible to apply for the shares.
1,96,424 valid applicants have been allotted a total of 7,37,70,276 shares. Thus, 3,62,79,724 shares were unclaimed by eligible investors. This remaining quantity of shares will be auctioned. If the remaining shares are auctioned at an average price equal to the company's LTP, i.e. Rs. 436.90, the auction will bring an extra Rs. 12.22 Arba as non-operating income for the company. However, note that this was only an approximation, and the company's LTP is an inaccurate estimation of the auction cut-off rate.