Chhyangdi Hydropower Limited (CHL) has closed its 10:3 ratio rights offering on Falgun 02. The issue had opened on 11th Magh.
A total of 8,93,025 shares were issued to eligible shareholders at a par value of Rs. 100 per unit. This will raise Rs. 8,93,02,500 for the company. Poush 21 was the book closure date for the rights offering. Thus, shareholders maintained before that day could apply for the right shares.
According to CDSC, 27,740 eligible shareholders applied for a total of 5,82,824 shares. Thus, this rights offering could only receive a 65.26% subscription.
Thus, the remaining 3,10,201 shares will now be auctioned. CHL closed at Rs. 480 today. Considering a conservative average auction rate of Rs. 350,…
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