Arun Kabeli Power Closing Auction of 20.14 Lakh Unclaimed Right Shares from Today

Arun Kabeli Power Limited (AKPL) is closing the auction of 20,14,817 units of unsold ordinary right shares from today i.e. 14th Kartik, 2080.

The company has been auctioning 20,14,817 units of unsold ordinary right shares from 30th Ashwin, 2080. 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 were being 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 is 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. 174.50.