People’s Power Limited Is Closing Auction of 3,91,779 Unclaimed Rights Shares Today

People's Power Limited (PPL) is closing the auction of 3,91,779 units of unclaimed rights shares from its previous 1:0.50 rights offering today, 22nd Bhadra 2082. The auction had opened on 15th Bhadra 2082.

A total of 27,71,221 shares have been allotted to the 91,938 applicants. Thus, 3,91,779 (12.38%) shares were unclaimed by eligible investors.

Of the total right shares issued, only 27,71,221 (87.62%) units were allotted to eligible shareholders. 12.38% of shares were unclaimed by eligible investors. Thus, the same 3,91,779 units of unsold right shares will be closed to the general public from today.

This is the unclaimed portion of the rights offering. The company had issued a 1:0.50 Ratio right share issue to its shareholders from 22nd Ashadh to 26th Shrawan, 2082.

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

Prabhu 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 are allowed to bid for the entire issue, they must adhere to the regulatory board's rule, which restricts exceeding the specified share quantity per entity.