River Falls Power Limited (RFPL) has officially closed the auction for 10,38,924 units of unclaimed rights shares from its earlier 1:1 rights offering. The auction began on 26th Kartik and concluded today, 3rd Mangsir, 2082.

According to the company, a total of 59,61,076 shares (85.15%) from the rights issue had already been allotted to valid applicants. However, 10,38,924 shares remained unclaimed by eligible shareholders, leading to the auction now concluded.

In the earlier phase of the rights issue, only 22,24,173 units were allotted to the existing shareholders. Thus, the remaining 10,38,924 units (14.85%) were opened for public bidding as unclaimed shares.

The unclaimed portion stemmed from the company’s 1:1 rights offering conducted between 23rd Bhadra and 26th Ashwin, 2082. Both individuals and institutions were eligible to participate in the auction.

LS Prabhu Limited served as the issue manager for the auction. The minimum bid price was set at Rs. 100 per share, with a minimum bid quantity requirement of 100 units for ordinary right shares. While bidders were permitted to bid for the entire available quantity, they were also required to comply with the regulatory limit that restricts exceeding the specified share quantity per entity.