Peoples Power to Auction 391,779 Unsubscribed Rights Shares from Sept 1

Peoples Power Ltd. (PPL) announced that it will sell its unsubscribed rights shares through an auction scheduled for September 1 to 7 (Bhadra 15–22).

The company had issued 3.16 million rights shares at a 1:0.50 ratio (5 shares for every 10 held) between July 6 and August 10 (Ashar 22–Shrawan 26). Only existing shareholders registered by June 15 (Ashar 1) were eligible to apply.

During the subscription period, 91,938 shareholders subscribed to 2.77 million shares, leaving 391,779 units unsubscribed. These remaining shares will now be offered through competitive bidding.

The base price for bids has been set at Rs. 100 per share, with a minimum application size of 100 shares. Applicants may bid for up to the entire remaining lot. Participation is open to individuals, institutions, and even promoters.

Bid forms are available at Prabhu Capital Ltd., Kamaladi, Kathmandu, as well as Prabhu Bank branches in Biratnagar, Birgunj, Hetauda, Pokhara, Butwal, Surkhet, and Dhangadhi. Completed forms must be submitted at the same locations.

This auction provides an opportunity for investors to acquire PPL shares at a competitive premium, reflecting growing interest in Nepal’s hydropower sector.