Cut off price for 2,77,996.53 unit promoter shares of Shree Investment and Finance stands at Rs 106; 38 bidders got hold of shares out of 64 applicants
Sun, Apr 22, 2018 2:02 AM on Auction, Latest, Stock Market,
An official at Siddhartha Capital Limited, which had managed the auction of promoter shares of Shree Investment and Finance Company Limited (SIFC) informed that its cut off price stands at Rs 106. The highest bid amount received for the auction shares was Rs 224. Total 64 applicants had submitted their bids where 38 of them were able to get hold of the shares.
The finance company had auctioned 66.37 thousand unit ordinary right shares and 2.77 lakh unit promoter right shares from Chaitra 8 till Chaitra 16, 2074. However, the right shares of promoters group went completely unsold in the previous auction. Now, the general public can
place bids for the right shares.
It’s paid up capital stand at Rs 34.54 crore. After adjustment 83% right share, its paid up capital reached to Rs 63.20 crore, As per NRB’s requirement for all finance company to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74, SIFC will need to issue a further capital hike of Rs 16.8 crore (around 26.5%).
