River Falls Power Limited (RFPL) initiated the auction for its common shares (available rights shares) on 8th Mangsir, 2082. Prabhu Capital Limited was designated as the auction overseer. The bidding event took place at the offices of Prabhu Capital Limited, Kamaladi, Kathmandu, commencing at 9:00 am.
The auction kicked off on 26th Kartik, 2082 and wrapped up on 3rd Mangsir, 2082, at the close of banking hours. A total of 10,38,924 units of ordinary rights shares were auctioned. Both individuals and corporations were permitted to participate in the bidding process.
This comprises the remaining section of the rights offering. The company had launched a 1:1 Ratio rights share distribution to its shareholders from 23rd Bhadra to 26th Ashwin, 2082.
The lowest bid price for the auction was set at Rs. 100. While the minimal bid quantity for shares was 100 units, no upper limit was imposed. Those interested could bid for the entire lot, but they were required to follow the regulatory authority’s guideline not to exceed the designated quantity of shares per entity.
Approximately 2,300 applications were submitted for ordinary rights shares, with the provisional cut-off rate being Rs. 319, according to the auction manager. Once all checks are reconciled and cleared, the cut-off prices may be revised.
The last recorded price of the stock is Rs. 358.00 per share.
