City Hotel Limited (CITY) has announced the auction of 21,50,418 units of unsold promoter, employee, and ordinary lock-in shares from its recent 1:0.80 rights offering. The auction will be open for bidding from 23rd Kartik to 30th Kartik, 2082.

Out of the total rights issue, 1,12,41,582 shares were successfully allotted to valid applicants, while 19,50,418 shares (14.78%) remained unclaimed by eligible investors. Thus, 85.22% of the offered shares were subscribed, leaving the remaining portion available for public auction.

The shares being auctioned include:

• 19,80,999 units under promoter lock-in shares,
• 6,000 units under employee lock-in shares (both locked until Jestha 04, 2083), and
• 1,54,419 units held by public shareholder groups.

These represent the unclaimed portion of the rights offering, originally issued to shareholders at a 1:0.80 ratio from 23rd Bhadra to 26th Ashwin, 2082.

All individuals, companies, and institutions are eligible to participate in the auction. The minimum bid rate is set at Rs. 100 per share, and the minimum bid quantity for ordinary right shares is 100 units. While bidders may apply for the full issue, they must comply with the regulatory limits on maximum shareholding per entity.

Prabhu Capital Limited has been appointed as the issue manager for this auction process.

This auction presents an opportunity for investors to acquire shares of City Hotel Limited that remained unsubscribed during its rights offering, potentially adding value to their investment portfolios.