Arun Valley Hydropower Development Company Limited (AHPC) is gearing up to auction off 19,92,134 unsold ordinary right shares from its previous 1:1 rights offering. The auction is scheduled to take place from the 10th to the 24th of Baishakh, 2081.
During the rights offering, only 1,66,87,492 (89.34%) units out of the total right shares issued were allocated to eligible shareholders. This leaves 10.66% of the shares unclaimed by eligible investors. Consequently, the unclaimed portion of 19,92,134 units will now be put up for auction to the general public starting from the 10th of Baishakh.
This unsold segment represents the portion of shares that were not taken up by eligible shareholders during the initial rights offering, which was conducted from the 17th of Falgun to the 7th of Chaitra, 2080.
Both individuals and institutions are eligible to participate in the auction process. Muktinath Capital Limited has been appointed as the issue manager for this right share auction. The auction will commence with a minimum bid rate of Rs. 100 per unit, and the minimum bid quantity allowed is 100 units.
While bidders have the option to bid for the entire issue, they must adhere to the regulatory board’s guidelines, ensuring that they do not exceed the specified quantity of shares per entity.