Manjushree Finance auctioning 10.04 lakh units unclaimed right shares from today at Rs 100 & above; LTP at Rs 177

Manjushree Finance Limited (MFIL) is auctioning its 10.04 lakh units unclaimed right shares from today (Chaitra 28, 2073). The finance company is selling 69,016 ordinary shares and 9,35,074 units promoter shares after the right shares issued from Magh 6 to Falgun 11, 2073 were not fully subscribed by its shareholders. MFIL had issued right shares in the ratio 1:1.75. Bidders must apply for a minimum of 100 units with a minimum bid price of Rs 100 per share. The number of shares applied must be a multiple of 10. Ace Capital Limited has been assigned as the issue manager for this auction. 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. The auction will last till Baisakh 5, 2073. The bid will open to conclude the auction on Baisakh 6, 2073 at 3:00 PM. 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%. Its last traded price (LTP) stood at Rs 177 as of April 9, 2017.