The unclaimed portion of Upper Tamakoshi Hydropower Limited’s (UPPER) right share is up for sale starting today, March 13, and will end on March 29, 2080.
An auction will be held for 1,70,19,530 units of ordinary right shares. This is the part of the rights offering that has not been claimed. From 18th Bhadra to 22nd Ashwin, 2080, the corporation issued right share issues to its stockholders in a 1: 1 ratio. Eligible stockholders received 105,900,000 shares in total, each with a par value of Rs. 100. 8,88,80,470 shares were distributed to eligible applicants. Thus, an auction will now be held for the remaining 1,70,19,530 shares.
Sunrise Capital Limited has been appointed as the issue manager of this right share. Rs. 100 is the minimum bid rate for the auction. The minimum bid quantity is 100 units and the maximum bid quantity is 5,00,000 units. Although bidders can bid for the entirety of the issue, they are required to abide by the regulatory board’s rule to not exceed the specified quantity of shares per entity.
After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 21.18 Arba.
The hydropower has posted a net profit of Rs. 1.00 Arba, the earnings per share of the company is Rs. 6.30, and the net worth of the company is Rs. 60.97 as of the first quarterly report of the company for the fiscal year 2080/81.
As of writing, UPPER has an LTP of Rs.204.50.