Ghalemdi Hydro Closing Auction of 32.17 Lakh Units Right Shares from Today

Ghalemdi Hydro Limited (GHL) is closing the auction of the unclaimed portion of its right share from today i.e. 23rd Magh. The auction opened on 9th Magh, 2080.

32,17,724 units of ordinary right shares will be auctioned. This is the unclaimed portion of the rights offering. The company had issued a 1: 2 ratio right share issue to its shareholders from 10th Mangsir to 16th Poush, 2080. Out of the total right shares issued only 77,82,276 (70.75%) units were allotted to eligible shareholders. 29.25% of shares were unclaimed by eligible investors. Thus, the same 32,17,724 units of unsold right shares are for the general public which will close today.

Individuals and institutions are all eligible to bid for the auction.

Muktinath Capital Limited has been appointed as the issue manager of this right share. Rs. 100 is the minimum bid rate for the auction. The minimum bid quantity is 100 units. 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.

The current paid-up capital of Rs. 55 Crores. After the adjustment of the proposed right share i.e. 1.10 crore units, the paid-up capital of the company will increase to Rs. 1.65 Arba.

As of writing, GHL has an LTP of Rs. 183.00.