Progressive Finance allots its 281% right shares; More than 21 lakh units remain unsubscribed
Mon, Nov 19, 2018 11:15 AM on Dividend, Bonus & Rights, Latest, Stock Market,
Progressive Finance Limited (PROFL) has allotted its 281% right shares to the shareholders.
The finance company had floated 59,01,000 shares for its shareholders at a par value of Rs 100.
Out of the issued shares, 4,48,000 units promoter shares and 16,71,900 units ordinary shares remained unsubscribed.
The unsold shares will be sold via auction soon. The finance company’s current capital of Rs 21 crore will increase to Rs 80.01 crore after the adjustment of 281% right shares.
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