Bids Received in Auction of Chhyangdi Hydropower Ordinary Shares Opened; What is the Cut-Off Rate?

Chhyangdi Hydropower Company Limited (CHL) opened the bids for its ordinary shares (unsold right shares) auction on 27th Shrawan, 2082. Global IME Capital Limited was appointed as the auction manager. The bidding process took place at the Global IME Capital Limited premises in Naxal, Kathmandu, starting at 8:00 am.

The auction opened on 14th Shrawan, 2082, and concluded on 21st Shrawan, 2082, at the end of banking hours. In total, 2,98,832 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 23rd Jestha and 12th 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.

With 907 applications were received for ordinary right shares; the tentative cut-off rate is Rs. 266, according to the auction manager. Once all cheques are reconciled and cleared, the cut-off prices may be subject to change.

The last traded price of the scrip stands at Rs. 310.06 per share.