Cut-off price for 1,201 units auctioned ordinary shares of Best Finance stood at Rs. 110; 75,340 units promoter shares still unsubscribed
Tue, Apr 10, 2018 11:41 AM on Auction, Featured, Latest, Stock Market,
The cutoff price for auctioned 1,201 ordinary shares of Best Finance Company (BFC) stood at Rs 110. The bids were opened by Global IME Capital. The maximum bid was received at Rs. 120. Out of 11 applicants only 3 received the shares.
Similarly, out of 1,06,940 unit promoter shares auctioned only 31,600 units was subscribed. Total number of applicants were 5. The cutoff was at Rs. 100. The remaining 75,340 unit were unsubscribed.
After the adjustment of the rights shares, the company’s total paid-up capital will reach Rs 29.75 crore from the existing Rs 13.22 crore. The bank has authorized capital of 30 crore.
BFC will be acquiring Synergy Finance Limited (SYFL) in the share swap ratio of 1:1.
It had posted net profit of Rs 3.59 crore in the second quarter of the FY 2074/75.
