Joshi Hydropower Development Company Is Closing Auction of Unclaimed Rights Shares Today

Joshi Hydropower Development Company Limited (JOSHI) is closing the auction of 1,89,927 units of unclaimed rights from its previous 1:0.65 rights offering today,11th Kartik, 2082. The auction had opened on 28th Ashwin, 2082.

A total of 22,24,173 shares have been allotted to the valid applicants. Thus, 1,89,927 (7.87%) shares were unclaimed by eligible investors.

Of the total right shares issued, only 22,24,173 (92.13%) units were allotted to eligible shareholders. 7.87% of shares were unclaimed by eligible investors. Thus, the same 1,89,927 units of unsold right shares are in auction to the general public.

This is the unclaimed portion of the rights offering. The company had issued a 1:0.65 Ratio right share issue to its shareholders from 15th Shrawan to 19th Bhadra, 2082.

Individuals and institutions are all eligible to bid for the auction.

LS Capital Limited has been appointed as the issue manager of this rights share. The minimum bid rate for the auction is set at Rs. 100. For ordinary right shares, the minimum bid quantity is 100 units. Although bidders can bid for the entire issue, they must adhere to the regulatory board's rule, which restricts exceeding the specified share quantity per entity.