Himalayan Power Partner Limited has opened the auction of 468,740 units of ordinary right shares from today (Jestha 27, 2083). The auction will remain open until Ashad 4, 2083.
The shares being auctioned represent the unsubscribed portion of the company's recently concluded rights offering. Under the rights issue, HPPL had offered shares to existing shareholders in the ratio of 1:0.50 from Baishakh 17 to Jestha 6, 2083.
Out of the total rights shares issued, 48,58,345 shares were allotted to 46,769 valid applicants, accounting for approximately 91.2 percent of the issue. However, 4,68,740 shares, equivalent to 8.79 percent of the total offering, remained unsubscribed by eligible shareholders.
As per regulatory provisions, these unclaimed shares are now being offered through an auction process open to both individual and institutional investors.
Global IME Capital Limited has been appointed as the issue manager for the auction.
Key details of the auction include:
- Auction Period: Jestha 27 to Ashad 4, 2083
- Total Shares Available: 468,740 units
- Minimum Bid Price: Rs. 100 per share
- Minimum Bid Quantity: 100 shares
- Eligible Participants: Individuals and institutional investors
- Maximum Application: Investors may bid for the entire issue, subject to applicable regulatory ownership limits.
The auction provides an opportunity for investors to acquire additional shares of HPPL directly through a competitive bidding process. The final allotment price will depend on the bids received during the auction period.
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