Barun Hydropower Completes Auction Allotment of Right Shares — Cut-off Price Fixed at Rs. 184.60

Barun Hydropower Company Limited has completed the auction allotment of 238,443 units of unsold right shares under the general public category. The company had invited applications for the auction through a sealed bidding process from Bhadra 29 to Ashwin 12, 2082.

According to RBB Merchant Banking Limited, the received bids were opened on Ashwin 28 and the share allotment was completed on Kartik 2. The final (cut-off) price for the auctioned shares was determined at Rs. 184.60 per share.

Investors who placed bids at or above the cut-off price were allotted shares proportionally based on a relative weighting method, while those who did not receive any shares will have their refunds processed through Connect IPS starting Kartik 12, 2082 (tomorrow), directly to their respective bank accounts.

Barun Hydropower had opted for the auction route after some portion of its right shares remained unsubscribed during the earlier issuance period.