Auction Alert: Upper Tamakoshi Hydropower Auctioning 1.70 crore Units Unclaimed Right Shares from Today

Upper Tamakoshi Hydropower Limited (UPPER) is auctioning the unclaimed portion of its right share from today i.e. 13th Poush and will conclude on 29th Poush, 2080.

1,70,19,530 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 18th Bhadra to 22nd Ashwin, 2080. A total of  105,900,000 shares were issued to eligible shareholders at a par value of Rs. 100 per unit. Eligible applicants were allotted 8,88,80,470 shares. Thus, the remaining 1,70,19,530 shares will now be auctioned.

Sunrise Capital Limited has been appointed as the issue manager of this right share. Rs. 100 is the minimum bid rate for the auction. The minimum bid quantity is 100 units and the maximum bid quantity is 5,00,000 units. 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.

After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 21.18 Arba. 

The hydropower has posted a net profit of Rs. 1.00 Arba, the earnings per share of the company is Rs. 6.30, and the net worth of the company is Rs. 60.97 as of the first quarterly report of the company for the fiscal year 2080/81. 

As of writing, UPPER has an LTP of Rs.204.50.