Upper Tamakoshi Hydropower Auctioning 1.70 Crore Unclaimed Right Shares from 13th Poush
Thu, Dec 21, 2023 11:05 AM on Latest, Dividend, Bonus & Rights, Auction,
Upper Tamakoshi Hydropower Limited (UPPER) is set to auction 1,70,19,530 unsold ordinary right shares from its previous 1:1 rights offering. The auction will open from 13th Poush to 29th Poush, 2080.
1,70,19,530 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 18th Bhadra to 22nd Ashwin, 2080.
Out of the total right shares issued only 8,88,80,470 units were allotted to eligible shareholders. The remaining 1,70,19,530 units of unsold right shares will now be auctioned to the general public from Poush 13.
Individuals and institutions are all eligible to bid for the auction.
Sunrise 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 and the maximum bid quantity is 5,00,000 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, UPPER has an LTP of Rs. 221.50.
