Joshi Hydropower Development Company Limited (JOSHI) is wrapping up the auction of 1,89,927 units of unclaimed rights from its prior 1:0.65 rights offering today, 11th Kartik, 2082. The auction kicked off on 28th Ashwin, 2082.
A total of 22,24,173 shares have been allocated to the valid applicants. Consequently, 1,89,927 (7.87%) shares remained unclaimed by eligible investors.
Out of the total rights shares issued, only 22,24,173 (92.13%) units were distributed to qualifying shareholders. 7.87% of shares were not claimed by eligible investors. Hence, the same 1,89,927 units of unsold rights shares are now available for auction to the general public.
This reflects the unclaimed segment of the rights offering. The company had rolled out a 1:0.65 ratio rights share issue to its shareholders from 15th Shrawan to 19th Bhadra, 2082.
Both individuals and institutions are welcome to participate in the auction.
LS Capital Limited has been designated as the issue manager of this rights share. The lowest bid rate for the auction is established at Rs. 100. For regular rights shares, the minimum bid quantity is 100 units. While bidders can compete for the entire issue, they are required to comply with the regulatory board’s guideline, which restricts exceeding the specified share quantity per entity.
