Cutoff for auctioned promoter and ordinary shares of Unnati Microfinance stands at Rs 226 and Rs 959 respectively; Paid up capital to reach Rs 8.8 crore

Sun, May 26, 2019 3:28 PM on Auction, Latest, Stock Market,
Cutoff for...

Unnati Microfinance Bittiya Sanstha Limited (UMB) had auctioned 8,895 units of unsold right share. The company is auctioning 1,278 units of promoter right shares and 7,617 units of ordinary right shares from Baisakh 26, 2076.

Siddhartha Capital Limited has been appointed as the issue manager for the auction.

Promoter shares

A total of 8 applications were received applying for 4,420 units promoter shares. The cutoff for promoter shares stands at Rs 226 with highest bid received at Rs 276.

Ordinary shares

A total of 119 applications were received on Ordinary side applying for 37,342 unit shares. The cutoff for auctioned ordinary shares stands at Rs 959 with highest bid received at Rs 1200.

The microfinance company had floated 1,10,000 unit shares as right shares for its shareholders. Out of the issued units, the company has allotted 1,01,105 units to the valid applicants and remaining 8,895 unit shares will be sold via auction.

The existing paid up capital of UMB is Rs 5.5 crore. The microfinance has already offered 40.50% bonus share to its shareholders for FY 2074/75. After the endorsement of 40.5% bonus share and 20% right share the paid up capital of the company will be Rs 8.8275 crore.