Allotment Concludes for Promoter Shares of Samriddhi Finance Company

Fri, Jul 1, 2022 12:13 PM on Latest, Auction,

The allotment has concluded for the auction of promoter shares of Samriddhi Finance Company Limited (SFCL). The auction opened on 1st Ashar and closed on 9th Ashar, 2079.

A total of 7,72,666 units promoter shares of Samriddhi Finance Company Limited were auctioned. Earlier the company had auctioned 73,100 unit ordinary shares and 8,67,366 unit promoter shares from the 29th Chaitra 2078 to 7th Baisakh, 2079. But not all promoter shares were sold, hence the company again to auctioned the unsold shares from 1st Asar, 2079. These were the unclaimed portion of the 2: 1 rights offering opened from 8th Falgun to 29th Falgun, 2078.

Existing promoters, individuals, and institutions were all eligible to bid for the auction. Rs. 100 was the minimum bid rate and 1000 was the minimum bid quantity. BOK Capital Market was appointed as the auction manager. The auction manager has stated that only 53,000 shares have been allotted to all bidders who bid at or above the minimum price. Thus, 7,19,666 shares are still unsold.