22 August 2024, Kathmandu

Hydroelectricity Investment and Development Company Limited (HIDCL) has put it up for sale through an auction process. This marks the final opportunity to submit bids for the 1 crore 68 lakhs 59 thousand 50 shares of the founding group.

Last Day to Submit Bids

HIDCL’s decision to sell these shares via auction follows the company’s earlier rights issue, where many shares remained unsold. The auction offers individuals, organizations, and companies a fresh opportunity to purchase these shares. The minimum bid price for the shares has been set, with investors required to quote this price or higher. Bidders can apply for a minimum of 100 shares, with the maximum being the total number of available shares.

Global IME Capital Limited is managing the share sale process. Investors interested in participating in the auction can submit their bids through any of the designated branches of Global IME Bank. These branches include Shankhamul, Birtamod, Hanuman das Rot, Janakpurdham, Ardshanagar, Birganj, Hetauda, Narayangadh, Newroad (Pokhara), Milanchowk (Butwal), Baglung Bazar, Tribhuvan Chowk (Nepalgunj), Birendranagar, Ghorahi, Dhangadhi, and Mahendranagar.

With the bidding period closing today, potential investors are urged to act quickly to secure their stake in HIDCL. The auction represents a significant opportunity for investors to acquire shares in a prominent player within Nepal’s hydroelectric sector, potentially yielding substantial returns in the future. Global IME Capital Limited has ensured that the bidding process is smooth and accessible, allowing participants from various regions to submit their applications easily.