Barun Hydropower Company Limited (BARUN) is closing the auction of the unclaimed portion of its right shares today i.e. on 21st Kartik, 2079. The auction was open from 14th Kartik .
3,55,060 units of ordinary shares (unsold right shares) are auctioned. This is the unclaimed portion of the rights offering that closed on Bhadra 31, 2079. The issue had opened on Bhadra 06. A total of 26,79,075 shares were issued to eligible shareholders at a par value of Rs. 100 per unit. Eligible applicants were allotted 23,24,015 shares. Thus, the remaining 3,55,060 shares are now auctioned.
Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity for shares is 100 units, there is no upper limit. Although bidders can bid for the entirety of the issue, they are required to abide by the regulatory body rule to not exceed the specified quantity of shares per entity.
RBB Merchant Banking is appointed the auction manager. As of writing, BARUN has an LTP of Rs. 223.50.