Himalayan Power Partner Limited has announced the auction sale of its unsubscribed rights shares following the completion of its recent rights offering.

The company is planning to auction 468,740 shares that remained unsubscribed after the rights issue subscription period, which ran from April 30 to May 19.

The auction price has been set at a minimum of Rs. 100 per share, and both individual and institutional investors are eligible to participate.

Applicants may bid for a minimum of 100 shares and up to the entire available quantity through the bidding process.

The auction will open on June 10 (Jestha 27) and interested investors must submit their applications by June 17 (Ashad 4).

The issue manager for the auction is Global IME Capital Limited. Application forms can be obtained and submitted through the issue manager’s office in Naxal as well as designated branches of Global IME Bank across Nepal.

With the shares available at face value, the auction is expected to attract interest from investors looking for opportunities in Nepal’s hydropower sector.