Singati Hydro Energy Closing Auction of 46.11 Lakhs Right Shares from Today
Tue, Apr 2, 2024 6:57 AM on Latest, Dividend, Bonus & Rights, Auction,
Singati Hydro Energy Limited (SHEL) is closing the auction of the unclaimed portion of its right share from today i.e. 20th Chaitra. The auction opened on 12th Chaitra, 2080.
46,11,539 units of ordinary right shares will be auctioned. This is the unclaimed portion of the rights offering. The company had issued a 1: 1 ratio right share issue to its shareholders from 2nd Falgun to 22nd Falgun, 2080. Out of the total right shares issued only 98,88,461 (68.2%) units were allotted to eligible shareholders. 31.80% of shares were unclaimed by eligible investors. Thus, the same 46,11,539 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.
As of writing, SHEL has an LTP of Rs. 199.00.
