CDS and Clearing Suspends the Rights Issue of Barun Hydropower; Shall Be Re-opened Only After Issue Manager Completes the Rectification of Errors

CDS and Clearing Ltd has provided an official notice stating that due to mismatched record uploaded by Issue Manager (RBB Merchant Banking Ltd) for the rights share of Barun Hydropower Company Ltd, they have suspended the Rights Issue. The rights issue of Barun Hydropower Company Limited (BARUN) will be available after the Issue Manager completes the rectification.

BARUN was issuing 26,79,075 units right shares in the ratio 1:1 to its shareholders from today, i.e. Bhadra 06. The issue opened from today, i.e. 6th Bhadra, 2079, and shall be concluded on 26th Bhadra.

The company had applied in SEBON to issue the right shares totalling 26,79,075 units at par value of Rs. 100 out of its paid-up value of Rs 26.79 crores. SEBON had then approved the issue on Ashad 15. The current paid-up capital of the company stands at Rs. 26.79 Crore which will increase to Rs. 53.58 Crore after the adjustment of the right shares.