Auction closing day of Synergy Power; Hydropower Company Auctioning 5,63,621 Units Ordinary Shares

Synergy Power Development Limited (SPDL) is closing the auction of 5,63,261 units of unsold ordinary right shares from today i.e. 15th Kartik, 2080.

The company had recently issued 1:0.50 ratio right shares i.e. 4,032,875 units to its eligible shareholders from 3rd Bhadra to 31st Bhadra, 2080. The remaining 5,63,261 units of unsold right shares were being auctioned to the general public from 1st Kartik. The current paid-up capital of the company is Rs. 80,65,75,000. After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 120.98 crores.

The general public and institutions are all eligible to bid for the auction. Sanima Capital 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.
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As of writing, SPDL has an LTP of Rs. 165.50.