Ridi Power Company Auctioning 11.35 Lakhs Unclaimed Right Shares from 29th Chaitra
Thu, Apr 4, 2024 10:22 AM on Latest, Dividend, Bonus & Rights,
Ridi Power Company Limited (RIDI) is set to auction 11,35,657 unsold ordinary right shares from its previous 1:0.5 rights offering. The auction will open from 29th Chaitra, 2080 to 9th Baisakh, 2081.
The company allotted the shares to applicants on the 20th of Chaitra, 2080, and those applicants who were not allotted shares will receive their refunds from today i.e. 23rd of Chaitra, 2080.
Out of the total right shares issued only 66,08,849 (85.34%) units were allotted to eligible shareholders. 14.66% of shares were unclaimed by eligible investors. 11,35,657 units of ordinary right shares will be auctioned. Thus, the same 11,35,657 units of unsold right shares will now be auctioned to the general public from 29th Chaitra.
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 18th Falgun to 8th Chaitra, 2080.
Individuals and institutions are all eligible to bid for the auction.
Muktinath Capital Limited has been appointed as the issue manager of this right share. Rs. 100 is the minimum bid rate for the auction. The minimum bid quantity is 100 units. Although bidders can bid for the entirety of the issue, they are required to abide by the regulatory board's rule to not exceed the specified quantity of shares per entity.
