Manjushree Finance cut off price for 69,016 units ordinary shares stood at Rs 164.04; Promoter cut off at Rs 100
- ShareSansar, April 20, 2017 on Featured , Latest , Share Auction , Stock Market
Manjushree Finance Limited (MFIL) had auctioned 69,016 units ordinary shares and 9,35,074 units promoter shares to the general public from Chaitra 28, 2073 till Baisakh 5, 2074. The bids were opened yesterday (Baisakh 6, 2074) at 3:00 PM.
An official of Ace Capital Limited, which managed the auction for Manjushree Finance, informed that the cut off price for 69,016 units ordinary shares stood at Rs 164.04. The highest bid amount for the auction shares received was Rs 200. Out of 278 applicants, only 71 applicants should get the shares.
Similarly, for 9,35,074 units promoter shares, the finance company has set a cut off price of Rs. 100. Total 27 applicants had submitted their bids for 9,35,074 units of promoter shares and all of them got shares.
MFIL had earned net profit of Rs. 2.37 crore in the second quarter of the current fiscal year. The paid up capital of the finance company stands at Rs 28.57 crore. After the capitalization of 175% right share, its paid up capital will reach Rs 72.43 crore. As per NRB’s directive for all national level finance companies to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74, MFIL will need to increase its capital by a further 10.45%.
Its last traded price (LTP) stood at Rs 183 as of April 19, 2017.
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