Auction of Best Finance's promoter and ordinary shares goes largely unsubscribed; Cutoff for both at Rs 100

Best Finance Company (BFC) has opened an auction for 802,224.47 shares from Bhadra 11 till 25, 2076. The company was auctioning 557,674.57 unit promoter shares and 244,549.90 unit ordinary shares.

Prabhu Capital Limited is appointed as the issue manager for the auction.

According to the officials at Prabhu Capital both the promoter and ordinary shares have not been fully subscribed.

Ordinary shares

A total of 11 applications were received applying for 189,930 units. The cutoff stood at Rs 100 with the maximum bid at Rs 100.01.

Promoter shares

A total of 2 applications were received applying for 1000 units. Both the applicants' bid price was Rs 100.

The unsubscribed units will be auctioned soon.