AHPC share auction: Cut-off: around Rs 400 for ordinary, Rs 352.11 for promoters

ShareSansar, June 9:

Arun Valley Hydropower Development Company Limited (AHPC) has auctioned 25,460 units of promoter and 1,24,458 units of ordinary shares that were unclaimed right issue floated back in March and April.

The cut-off price for the ordinary share is likely to hover around Rs 400 per unit and for the promoters share Rs 352.11 per share, according to the officials of both AHPC and the issue manager, Global IME Capital Limited.  The final data are still being compiled.

There were altogether 1,107 applicants who had submitted closed bids from May 30 to June 6 for the auction of the scrip floated at a face value of Rs 100.

The applicants had to bid for a minimum of 100 units and maximum of 5,000 units and had to bid for more than Rs 100 per unit, according to the company.

The 1:1 right shares are likely to be listed for trading around mid-June.