Ridi Power Company Limited (RIDI) has concluded the auction for the unclaimed portion of its right shares, starting from 29th Baisakh, 2081. The auction, which commenced on 29th Chaitra, 2080, offered 11,35,657 units of ordinary right shares, representing the unclaimed portion of the rights offering.
This auction opportunity stemmed from RIDI’s issuance of a 1:0.50 ratio right share issue to its shareholders from 18th Falgun to 8th Chaitra, 2080. Despite the issuance, only 66,08,849 (85.34%) units were allotted to eligible shareholders, leaving 14.66% of shares unclaimed.
The unsold right shares, totaling 11,35,657 units, are now available for public bidding, catering to both individuals and institutions. Muktinath Capital Limited has been appointed as the issue manager for this right share auction, setting a minimum bid rate of Rs. 100 and a minimum bid quantity of 100 units.
Although bidders have the option to bid for the entire issue, they must adhere to regulatory guidelines limiting the quantity of shares per entity. As of the latest update, RIDI has a Last Traded Price (LTP) of Rs. 171.00.
This conclusion of the auction marks an opportunity for investors to participate in RIDI’s growth story by acquiring unclaimed right shares. With the auction closed, interested individuals and institutions can now seize the chance to bolster their investment portfolios and capitalize on RIDI’s potential.