River Falls Power Limited Is Closing Auction of Unclaimed Rights Shares Today

River Falls Power Limited (RFPL) has announced the closure of its auction for 10,38,924 units of unclaimed rights shares from the previous 1:1 rights offering. The auction, which opened on 26th Kartik, officially closes today, 3rd Mangsir 2082.

A total of 59,61,076 (85.15%) shares have been allotted to the valid applicants. Thus, 10,38,924 shares were unclaimed by eligible investors.

Of the total right shares issued, only 22,24,173 units were allotted to eligible shareholders. Thus, the same 10,38,924 (14.85%) 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 1:1 Ratio right share issue to its shareholders from 23rd Bhadra to 26th Ashwin, 2082.

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

LS Prabhu 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.