Bids Received in Auction of Balephi Hydropower Ordinary And Promoter Shares Opened; What is the Cut-Off Rate?

Balephi Hydropower Limited (BHL) opened the bids for its unclaimed right shares auction on Falgun 22. NIMB Ace Capital was appointed as the auction manager. The bidding process took place at the NIMB Ace Capital premises in Lazimpat, Kathmandu, starting at 8:00 am.

The auction opened on 5th Falgun and concluded on 19th Falgun, 2081, at the end of banking hours. In total, 6,76,191 units of promoter shares and 5,08,892 units of ordinary right shares were auctioned. Individuals and companies were all eligible to bid in the auction.

This is the unclaimed portion of the rights offering. The company opened a 1:1 ratio right share issue to its shareholders from 27th Mangsir to 17th Poush, 2081. The same unsold right shares were auctioned to the general public.

The minimum bid rate for the auction was Rs. 100. 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's rule not to exceed the specified quantity of shares per entity.

As per the auction manager, the tentative cut-off rate for promoter shares stands at Rs. 225.5, for ordinary right shares at Rs. 322.5, and for lock-in shares of the public at Rs. 227.10. Once all checks are reconciled and cleared, the cut-off prices may be subject to change.

The last traded price of the scrip stands at Rs 358.60 per share.

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