Best Finance Company allots 3.80 lakh unit right shares; More than 8 lakh units remain unsubscribed

 Best Finance Company (BFC) has allotted 380,938 unit shares to the 2,512 valid applicants,

The company had issued 25% right shares for the shareholders of former Synergy Finance Limited. The company had issued 11,83,022.47 units at a par value of Rs 100.

After the allotment of the right shares, 8,05,084.47 unit shares remain unsold. The shares will be sold via auction in the near future.

Prabhu Capital has been appointed as the issue manager for the right share issuance.

After the adjustment of 25% right shares, the paid-up capital of the company will reach Rs 59.30 crore from the existing Rs 47.44 crore. Its acquisition has completed in a swap ratio of 1:1 after which the paid-up capital of the merged entity will reach Rs 88 crore.