Radhi Bidyut Company Closing Auction of 13,00,527.99 Unclaimed Right Shares From Today
Thu, Nov 24, 2022 10:37 AM on Latest, Dividend, Bonus & Rights, Auction,
Radhi Bidyut Company Limited (RADHI) is closing the auction closing date of 13,00,527.99 unit ordinary shares today i.e Mangsir 08, 2079.
The company has been auctioning the unclaimed portion of its right shares from 29th Kartik. The auction was supposed to conclude on 7th Mangsir, 2079, but the deadline was extended till today owing to government holiday this week due to elections.
13,00,527.99 units of ordinary shares (unsold right shares) are being auctioned. This is the unclaimed portion of the rights offering that closed on 25th Ashwin, 2079. The issue had opened on Ashwin 05. A total of 95,35,760.99 shares were issued to eligible shareholders at a par value of Rs. 100 per unit. Eligible 38,505 applicants were allotted with 82,35,233 units shares. Thus, the remaining 13,00,527.99 shares are being 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.
Muktinath Capital is appointed the auction manager. As of writing, RADHI has an LTP of Rs. 225.
