5 investor’s allotted 2,797 units auctioned ordinary shares of Reliable Microfinance; Cutoff price at Rs 1836.58

Reliable Microfinance Bittiya Sanstha Limited (RMFL) had auctioned 2,797 units ordinary shares from Asoj 17, 2074 till Asoj 25, 2074. The bids were opened today at Civil Capital Markets Limited at 12 PM. An official of Civil Capital, the issue manager of the auction, informed that the cutoff price for its 2,797 units ordinary shares has been set at Rs 1836.58. Highest bid amount of Rs 2151 was received. Out of 264 applicants, only 5 applicants grabbed the shares. RMFL has earned net profit of Rs 1.12 crore in the fourth quarter of the last FY 2073/74. Its last traded price stood at Rs 2,067 as of last trading day. Reliable Microfinance is going to conduct  5^th Annual General Meeting (AGM) on Asoj 29, 2074. The AGM will be endorsing 20% bonus share to its shareholders. The microfinance company had also issued 50% right share to its shareholders. “The right and auction shareholders are eligible for 13.33% bonus share of the company”, added the official.