Cutoff of Best Finance’s auctioned promoter share stands at Rs 100.05; maximum bid received at Rs 112.5
Wed, May 30, 2018 9:43 AM on Auction, Latest, Stock Market, Dividend, Bonus & Rights,
Best Finance’s auction for its unsubscribed 75,340 unit promoter right shares has concluded. According to the officials at Global IME Capital, a total of 17 applications were received applying for 77,000 unit shares. Out of the 1 application was rejected due to insufficient documents.
Similarly, of the remaining 16, 15 applicants are fully allotted. The cutoff stands at Rs. 100.05. The maximum bidder stood at Rs. 112.5.
Global IME Capital is the issue manager of the aution.
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.
