Auction Open From Today; Ngadi Group Power (NGPL) Auctioning 12,57,290 Unclaimed Right Shares from Today

Ngadi Group Power Limited (NGPL) is auctioning the unclaimed portion of its right share from today i.e. 2nd Ashwin and will conclude on 13th Ashwin, 2079.

12,57,290 units of ordinary shares (unsold right shares) will be auctioned. This is the unclaimed portion of the rights offering that closed on Bhadra 07, 2079. The issue had opened on 18th Shrawan. A total of 1,06,03,986 shares were issued to eligible shareholders at a par value of Rs. 100 per unit. Eligible applicants were allotted 93,46,696 shares. Thus, the remaining 12,57,290 shares will now be auctioned.

Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity for shares is 100 units, there is no upper limit. Although bidders can bid for the entirety of the issue, they are required to abide by the regulatory body rule to not exceed the specified quantity of shares per entity.

Siddhartha Capital has been appointed the auction manager. As of writing, NGPL has an LTP of Rs. 238.

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