This morning, the Hydroelectricity Investment and Development Company Limited (HIDCL) opened the offers received in the auction of its unclaimed right shares, which are known as Ashoj 22, for examination. The auction manager for the auction has been named as Global IME Capital & Partners. Bidding began at 8 a.m. today at the auction manager’s office, where it will continue until the end of the day.
The auction had begun on the 7th of Ashwin and ended on the 14th of Ashwin at the conclusion of banking hours, according to the calendar. It was decided to auction 3,300,000 units of promoter right shares and 32,29,794 units of ordinary right shares. When the rights issue closed, the amount remaining unclaimed by eligible shareholders was calculated. Anyone could participate in the auction, including individuals, institutions, and corporations.
Bids were accepted at a minimum of Rs. 100. When it came to promoter right shares, the minimum bid quantity was one crore units, and when it came to regular right shares, the minimum bid quantity was 100 units. According to the auction manager, the tentative cut-off rate for the general public is Rs. 225 per unit of currency. No applications were submitted for the position of promoters, either.