Ridi to debut at 305 on Sunday; expected to settle around Rs 650

ShareSansar, July 4:

Ridi Hydropower Development Company Limited is all set to debut at Nepal Stock Exchange Limited on Sunday.  
 
It is expected to debut at Rs 338 per share though the opening price brand is Rs 101.87 to Rs 305.10.
And the investors and pundits say that the scrip will continue to rise in days to come.

“Ridi is likely to be traded at the circuit level fort four to five days,” says Dipendra Agrawal, one of the noted investors in the market. “It should eventually settle around Rs 600.”

Chairperson of the Brokers’ Association Narendra Sijapati, too, feels that Ridi will settle somewhere above Rs 600.

Stock analyst and investor Uddhav Siwakoti says that the scrip is being traded at OTC in between Rs 550 and Rs 600 at the moment.

“Going by the bullish trend in the market,  I won’t be surprised if it eventually settle between Rs 650 to Rs 700,” he adds.

Another prominent investor Tulsi Ram Dhakal says that as its demand is high and the shares are limited, it is likely to be eventually settle in between Rs 550 and Rs 600.

He believes that Ridi could be traded between Rs 650 to 700 as the demand is high and the supply is limited.
Another noted investor Bimal Pandey says that Ridi should eventually settled over Rs 650.

Executive Director of the company Guru Prasad Neupane claims that there is high demand for Ridi’s share in that the company is expected to make a net profit of Rs 6.5 crore in the current fiscal year itself, which can entail a bonus share of 10 percent.

For the first time in the history of share market of the country, the issue managers have decided to put both groups of investors under the lottery system while allotting the primary shares due to overwhelming response to the IPO under both the groups.

The IPO has been tentatively allotted at 2.23 percent for the small group and 0.94 percent of the big one.

Ridi hydropower’s IPO of 11.70 lakh units, was oversubscribed by 81.71 times.

Ridi had issued the IPO at the face value of Rs 100 per unit on February 16.

The IPO being managed by Civil Capital Market Limited and co-managed by Global IME Capital Limited had close on February 20.