River Falls Power Limited has completed the allotment of its auctioned rights shares, with Prabhu Capital confirming a cutoff price of Rs. 318.10 per share.
River Falls Power Limited has finalized the allotment of the rights shares that were issued for auction. According to issue manager Prabhu Capital, the company’s board meeting held on Mangsir 14 decided on the completion of the auction allotment process.
As per the details published by Prabhu Capital, the cutoff price for the auction has been set at Rs. 318.10. All applicants who bid above this cutoff price have received full allotment of shares. Applicants who placed bids exactly at the cutoff price were allotted shares on a proportional basis, determined through a relative weightage method.
Prabhu Capital has also stated that the refund process for unsuccessful or partially allotted bidders will begin today, Mangsir 15, through IPS transfers directly to the respective bank accounts.
River Falls Power had opened the auction for more than 10 lakh unsubscribed rights shares from Karthik 26 to Mangsir 3. A total of 10,38,924 units of unsubscribed rights shares from the general shareholder category were available for auction.
Earlier, the company had issued a 100 percent rights share to its shareholders.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
