42,788.32 units auctioned shares of Prabhu Insurance allotted at cutoff price of Rs 980.10; promoter cutoff at Rs 450

Prabhu Insurance Limited (PRIN) had auctioned its 42,788.32 units ordinary shares and 5,334.48 units promoter shares to the general public from Jestha 31 to Asadh 7, 2074. The bids were opened today at Prabhu Capital at 12:00 PM. An official of Prabhu Capital, which managed the auction for Prabhu Insurance, informed that the cut off price for its 42,788.32 units ordinary shares stood at Rs 980.10. The highest bid amount for the auction shares received was around Rs 1060. Total 389 applicants submitted their bids for ordinary shares. Likewise, for 5,334.48 units promoter shares, the capital has set cutoff price of Rs 450. Number of allottees of both ordinary and promoter shares will be known after the shares are allotted, said the official. Its last traded price (LTP) stood at Rs 1,020 as of yesterday (June 22, 2017).