River Falls Power Limited (RFPL) has opened the auction of 10,38,924 units of unclaimed rights shares from its previous 1:1 rights offering. The auction period runs from 26th Kartik to 3rd Mangsir, 2082.
During the rights issue, a total of 59,61,076 units (85.15%) were allotted to valid applicants. However, 10,38,924 units (14.85%) remained unsubscribed and are now available for auction to the general public.
The company had issued the rights shares to existing shareholders from 23rd Bhadra to 26th Ashwin, 2082, of which only 22,24,173 units were subscribed.
Both individual and institutional investors may participate in the auction.
The minimum bid price has been set at Rs. 100 per share, and the minimum bid quantity is 100 units. While bidders may apply for the full number of shares being auctioned, they must comply with regulatory limits on maximum share acquisition.
LS Prabhu Limited is the appointed issue manager for the auction.
