City Hotel Limited is Auctioning 21,50,418 Units Of Right Shares From Kartik 23

City Hotel Limited (CITY) will set to auction 21,50,418 units of unsold promoters, employees, and ordinary lock-in shares from its previous 1:0.80 rights offering. The auction will open from 23rd Kartik to 30th Kartik, 2082.

A total of 1,12,41,582 shares have been allotted to the valid applicants. Thus, 19,50,418 (14.78%) shares were unclaimed by eligible investors.

Of the total right shares issued, only 1,12,41,582 (85.22%) units were allotted to eligible shareholders. 14.78% of shares were unclaimed by eligible investors. Thus, the remaining 19,80,999 units of right shares belonging to promoter shareholders under lock-in, together with 6,000 units under employee lock-in (both of which will remain locked until Jestha 04, 2083) and 1,54,419 units held by public shareholder groups, will be auctioned to the general public starting from 23rd Kartik.

This is the unclaimed portion of the rights offering. The company had issued a 1:0.80 ratio right share issue to its shareholders from 23rd Bhadra to 26th Ashwin, 2082.

All interested individuals, companies, and institutions are eligible to participate in the auction.

Prabhu Capital Limited has been appointed as the issue manager of this rights share. The minimum bid rate for the auction is set at Rs. 100. For ordinary right shares, the minimum bid quantity is 100 units. Although bidders can bid for the entire issue, they must adhere to the regulatory board's rule, which restricts exceeding the specified share quantity per entity.

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