Synergy Power Auctioning 5.63 Lakh Unclaimed Right Shares from 1st Kartik
Mon, Oct 9, 2023 10:35 AM on Latest, Dividend, Bonus & Rights, Auction,
Synergy Power Development Limited (SPDL) is auctioning its 5,63,261 units ordinary shares to the general public and institutions. The auction will open from 1st Kartik to 15th Kartik, 2080.
5,63,261 units of ordinary right shares will be auctioned. This is the unclaimed portion of the rights offering. The company opened a 1: 0.50 ratio right share issue to its shareholders from 3rd Bhadra to 31st Bhadra. The same unsold right shares will now be auctioned to the general public. Individuals and institutions are all eligible to bid for the auction.
Sanima Capital Limited has been appointed as the issue manager of this right share. Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity is 100 units, there is no upper limit for the shares. 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, SPDL has an LTP of Rs. 177.
