Bids Opened for Auction of AHPC Shares; What is the Cut-Off Rate?

The bids received in the auction of 4,35,894 units ordinary right shares of Arun Valley Hydropower Development Company Limited have been opened today, i.e. 21st Ashar, 2078.

These were the unclaimed rights shares in the rights offering that concluded on Jestha 02 earlier this year. The auction opened on 9th Ashar and closed on 16th Ashar, 2078. 4,35,894 units of ordinary right shares were auctioned. Individuals, institutions, and companies were all eligible to bid for the auction.

According to the auction manager, 948 applicants submitted bids. Rs. 387 is the preliminary cut-off rate. Note that this figure may deviate after final reconciliation. The highest bid received was at Rs. 450 per share.

This auction issue was managed by Muktinath Capital Limited.