Arun Kabeli Power (AKPL) Auctioning 20.14 Lakh Unclaimed Right Shares from 30th Ashwin
Tue, Oct 10, 2023 11:19 AM on Latest, Dividend, Bonus & Rights, Auction,
Arun Kabeli Power Limited (AKPL) is set to auction 20,14,817 unsold ordinary right shares from its previous 1:1 rights offering. The auction will open from 30th Ashwin to 14th Kartik, 2080.
20,14,817 units of ordinary right shares will be auctioned. This is the unclaimed portion of the rights offering. The company had issued a 1: 1 ratio right share issue to its shareholders from 11th Bhadra to 31st Bhadra.
Out of the total right shares issued only 1,65,37,288 units were allotted to 78,203 eligible shareholders. The remaining 20,14,817 units of unsold right shares will now be auctioned to the general public from Ashwin 30. The total paid up capital of the company post this auction would be Rs 3.89 arba.
Individuals and institutions are all eligible to bid for the auction.
Nabil Investment Banking Limited has been appointed as the issue manager of this right share. 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.
As of writing, AKPL has an LTP of Rs. 182.90.
