Bids Received in Auction of Rapti Hydro & General Construction Limited Ordinary Shares Opened; What is the Cut-Off Rate?

Rapti Hydro & General Construction Limited (RHGCL) opened the bids for its ordinary shares (unsold right shares) auction on 25th Shrawan, 2082. Muktinath Capital was appointed as the auction manager. The bidding process took place at the Muktinath Capital premises in Naxal, Kathmandu, starting at 8:00 am.

The auction opened on 13th Shrawan, 2082, and concluded on 20th Shrawan, 2082, at the end of banking hours. In total, 7,04,111 units of ordinary right shares were auctioned. Individuals and companies were all eligible to bid in the auction.

This is the unclaimed portion of the rights offering. The company opened a 1:1 ratio right share issue to its shareholders from 1st Ashadh to 22nd Ashadh, 2082. The same unsold rights shares were auctioned to the general public.

The minimum bid rate for the auction was Rs. 100. While the minimum bid quantity for shares was 100 units, there was no upper limit. Although bidders could bid for the entirety of the issue, they were required to abide by the regulatory body's rule not to exceed the specified quantity of shares per entity.

Around 1800 applications were received for ordinary right shares; the tentative cut-off rate is Rs. 276, according to the auction manager. Once all checks are reconciled and cleared, the cut-off prices may be subject to change.

The last traded price of the scrip stands at Rs. 318.78 per share.