Ghalemdi Hydro Auction Triumph: Breaking Down Rs. 152 Cut-Off Rate In Just 4.5 Hours

Sun, Feb 11, 2024 1:46 PM on Dividend, Bonus & Rights, Auction, Latest,

The bids received in the auction of 32,17,724 unit ordinary shares of Ghalemdi Hydro Limited (GHL) opened on 26th Magh, 2080.

The auction opened on 9th Magh and concluded on 23rd Magh at the end of banking hours. 32,17,724 units of ordinary right shares were auctioned.

This is the unclaimed portion of the rights offering. The company opened a 1: 2 ratio right share issue to its shareholders from 10th Mangsir to 16th Poush, 2080. The same unsold right shares were auctioned to the general public.

Muktinath Capital Limited was appointed as the auction manager. Bids opened at Lisara Receptions, Bhagwatibahal, Naxal, Kathmandu, starting at 8 a.m. The general public and institutions were all eligible to bid for the auction.

Rs. 100 was the minimum bid rate for the auction. 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 rule to not exceed the specified quantity of shares per entity.

According to the auction manager, a total of 5,776 applicants placed bids for around 32,17,724 unit ordinary shares.

The cut-off rate for GHL stands at Rs. 152, and this figure has been diligently calculated within a timeframe of 4.5 hours.

The last traded price of the scrip stands at Rs 185.00 per share.