Balephi Hydropower Limited (BHL) successfully conducted the auction for its unclaimed right shares on Falgun 22, 2081. The auction was managed by NIMB Ace Capital Limited, with the bidding process taking place at their premises in Lazimpat, Kathmandu, starting at 8:00 AM.
Auction Overview
The Key Dates and Share Details of the auction are as follows:
- Auction Period: The auction opened on 5th Falgun and concluded on 19th Falgun, 2081, at the end of banking hours.
- Shares Auctioned:
- Promoter Shares: 6,76,191 units.
- Ordinary Right Shares: 5,08,892 units.
- Eligibility: Both individuals and companies were eligible to participate in the auction.
This auction was conducted for the unclaimed portion of the company’s 1:1 right share issue, which was offered to shareholders from 27th Mangsir to 17th Poush, 2081.
Auction Rules and Bidding Process
- Minimum Bid Rate: Rs. 100 per share.
- Minimum Bid Quantity: 100 units.
- Maximum Bid Quantity: No upper limit, but bidders were required to comply with regulatory limits on shareholding per entity.
Tentative Cut-Off Rates
Preliminary Results Await Final Confirmation as per the auction manager, the tentative cut-off rates are as follows:
- Promoter Shares: Rs. 225.5 per share.
- Ordinary Right Shares: Rs. 322.5 per share.
- Lock-in Shares of the Public: Rs. 227.10 per share.
These rates are subject to change once all checks and reconciliations are completed.
Key Highlights of the Auction
- Auction managed by NIMB Ace Capital Limited in Lazimpat, Kathmandu.
- 6,76,191 promoter shares and 5,08,892 ordinary right shares auctioned.
- Minimum bid rate set at Rs. 100, with no upper limit on bid quantity.
- Tentative cut-off rates indicate strong investor interest.
Notice of Balephi Hydropower Concludes Unclaimed Right Shares Auction
Conclusion
The auction of unclaimed right shares by Balephi Hydropower Limited reflects the company’s efforts to optimize its capital structure and provide opportunities for investors. The tentative cut-off rates suggest robust demand for both promoter and ordinary shares. Once finalized, these rates will provide clarity on the success of the auction and the company’s financial outlook.