Bids Received in Auction of Arun Valley Hydropower Ordinary Shares Opened; What is the Cut-Off Rate?

The bids received in the auction of 19,92,134 unit ordinary shares of Arun Valley Hydropower Development Company Limited (AHPC) opened today on 27th Baishakh, 2081.

The auction application opened on the 10th of Baishakh, 2081, and concluded on the 24th of Baishakh, 2081 at the end of banking hours. 19,92,134 units of ordinary right shares were auctioned.

This is the unclaimed portion of the rights offering. The company opened a 1: 1 ratio right share issue to its shareholders from 17th Falgun to 7th Chaitra, 2080. The same unsold right shares were auctioned to the general public.

Muktinath Capital Limited is the auction manager. Bids opened at the head office of the company located at Narayanchaur, Naxal, Kathmandu, starting today at 8:00 a.m. The general public and institutions were all eligible to bid in the auction.

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

According to the auction manager, a total of 1,898 applicants placed bids for 19,92,134 unit ordinary shares. The tentative cut-off rate is Rs. 144 whereas the maximum bid rate stood at Rs. 175. Once all of the checks get reconciled and cleared, the cut-off price may vary.

The last traded price of the scrip stands at Rs 159.70 per share.