17,89,239 Right Shares of Samriddhi Finance (SFCL) Allotted to Applicants, Remnant Shares to Be Auctioned

Thu, Mar 31, 2022 11:09 AM on Latest, Dividend, Bonus & Rights, Auction,

Samriddhi Finance Company Limited (SFCL) has allotted its 2:1 ratio rights offering on 16th Chaitra, 2078. The company will start refunding money to non-allottee investors starting from 20th Chaitra.

The rights offering was open from 8th Falgun to 29th Falgun, 2078. The company had proposed to issue the right shares in a 2:1 ratio. The company submitted its proposal to the regulator on Shrawan 15. SEBON then approved the proposal on Mangsir 29. Poush 11 was the book closure date. Thus, shareholders maintained before that day were eligible to apply for the right shares.

BOK Capital was appointed the issue manager. Of the 27,29,705 shares issued, the company only received valid applications for 17,89,239 shares, which have been allotted. The remaining 9,40,466 shares will now be auction by the company.

As of writing, the company has an LTP of Rs. 333. If the shares can be auctioned away at an average price of Rs. 300, the auction alone will generate an additional non-operating income of Rs. 18.8 crores for the company.

After the adjustment of the entirety of the proposed right shares, the total paid-up capital of SFCL will be Rs 81.90 crore.

Notice