Singati Hydro Energy (SHEL) to Auction Unclaimed Ordinary Right Shares: 46,11,539 Units Up for Bidding


Singati Hydro Energy Limited (SHEL) has announced plans to auction off 46,11,539 unsold ordinary right shares from its previous 1:1 rights offering. The auction is scheduled to take place from the 12th to the 20th of Chaitra, 2080.

These unsold ordinary right shares constitute the portion of the rights offering that remained unclaimed by eligible shareholders. The company had initially issued a 1:1 ratio right share offering to its shareholders between the 2nd and 22nd of Falgun, 2080.

Of the total right shares issued, only 98,88,461 units, representing 68.2%, were allotted to eligible shareholders. The remaining 31.80% of shares, totaling 46,11,539 units, were left unclaimed. Consequently, these unsold right shares will now be made available for auction to the general public starting from the 12th of Chaitra.

Individuals and institutions alike are eligible to participate in the auction. Muktinath Capital Limited has been appointed as the issue manager for this right share auction. The minimum bid rate for the auction is set at Rs. 100, with a minimum bid quantity of 100 units. While bidders have the option to bid for the entirety of the issue, they must adhere to regulatory guidelines limiting the quantity of shares per entity.

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