Api Power Company Auctioning 11.94 Lakh Unclaimed Right Shares from Ashwin 17

Api Power Company Limited (API) is auctioning its 11,94,934 unit ordinary shares to the general public and institutions. The auction will open on the 17th Ashwin to 24th Ashwin, 2080.

11,94,934 units of ordinary right shares will be auctioned. This is the unclaimed portion of the rights offering. The company opened a 1: 0.40 ratio right share issue to its shareholders from 31st Shrawan to 19th Bhadra, 2080. The same unsold right shares will now be auctioned to the general public. Individuals and institutions are all eligible to bid for the auction.

Muktinath Capital has been appointed as the auction manager. Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity is 100 units, there is no upper limit for the shares. Although bidders can bid for the entirety of the issue, they are required to abide by the regulatory board's rule to not exceed the specified quantity of shares per entity.

The last traded price of the scrip stands at Rs 194.50 per share.

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