Last day to bid for 5.38 lakh units promoter shares of Manjushree Finance; LTP at Rs 188

Manjushree Finance Limited (MFIL) has been auctioning its 5.38 lakh units unsold promoter shares since Baisakh 12, 2074 and today is the last day for the same. It is reselling 5,38,774 units promoter shares as all the right shares were not subscribed by its shareholders or in the previous auction. Only 3.96 lakh units out of 9.35 lakh units were subscribed in the previous auction. The finance company had auctioned its shares on Chaitra 28, 2073. The auction will last till today (Baisakh 17, 2074). The bid will open to conclude the auction on Baisakh 19, 2074 at 1:00 PM. Ace Capital Limited has been assigned as the issue manager for this auction. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units for the promoter shares. The number of shares applied must be a multiple of 10. MFIL has urged interested bidders to submit their bids by 3:00 PM till Baisakh 17, 2073 at Ace Capital  Limited. Interested investors can submit the bid amount in the name of Ace Capital Limited in account number 0011043901CA1 maintained at Ace Development Bank Limited. Bidders can also apply through a “Good For Payment” cheque made in the name of Ace Capital Limited. MFIL had earned net profit of Rs. 2.37 crore in the second quarter of the current fiscal year. The paid up capital of the finance company stands at Rs 28.57 crore. After the capitalization of 175% right share, its paid up capital will reach Rs 72.43 crore. As per NRB’s directive for all national level finance companies to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74, MFIL will need to increase its capital by a further 10.45%. The last traded price of MFIL stood at Rs. 188 as of Baisakh 14, 2074.