Upper Tamakoshi Hydropower Closing Auction of 1.70 Crore Units Right Shares from Today
Sun, Jan 14, 2024 12:51 PM on Latest, Dividend, Bonus & Rights, Auction,
Upper Tamakoshi Hydropower Limited (UPPER) is closing the auction of the unclaimed portion of its right share from today i.e. 29th Poush. The auction opened on 13th Poush, 2080.
1,70,19,530 units of ordinary right shares are being 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. A total of 105,900,000 shares were issued to eligible shareholders at a par value of Rs. 100 per unit. Eligible applicants were allotted 8,88,80,470 shares. Thus, the remaining 1,70,19,530 unit shares are being auctioned from the 13th of Poush.
Sunrise Capital Limited is 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.
After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 21.18 Arba.
UPPER closed at Rs.197.90 last Thursday.
