Prabhu Bank to auction unsubscribed 10:4 right shares from Ashad 11; around 9.50% unsubscribed shares include 15.60 lakh promoter & 6.71 lakh ordinary shares

Prabhu Bank Limited (PRVU) has published a notice regarding the auction of its unsold right shares from Ashad 11 till Ashad 18, 2075.

The commercial bank had floated 2,35,25,608 unit right shares for the shareholders from Magh 7, 2074 till Falgun 23, 2074. The auction has been opened for the unsold 15,60,203 unit right shares of promoter group and 6,71,062 unit right shares of ordinary shareholders group. Around 9.50% of the issued right shares were unclaimed.

Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Only the existing promoters can apply for the right shares of the promoters group. Interested bidders must bid for a minimum of 1,000 unit shares in the promoters group and 100 units in the ordinary group.

Prabhu Capital Limited has been appointed as the issue manager for the auction. The bidders can collect the forms from Prabhu Capital or from the designated branches of Prabhu Bank Limited.

The bank has urged the bidders to deposit the bid amount in A/C No 5441504561524001 in NIC Asia Bank Limited in the name of Prabhu Capital Limited or through Good for Payment Cheque.

The bank’s paid up capital will reach Rs 8.24 arba after the adjustment of 40% right shares. It had earned Rs 86.72 crore in the third quarter of the ongoign FY 2074/75.