Progressive Finance cut off price for 84,276 units ordinary shares stood at Rs 115.11; LTP stood Rs 161

Progressive Finance Company Limited (PROFL) had auctioned its 84,276 units ordinary right shares and 3, 18,500 units promoter right shares to the general public from Ashwin 1, 2072 to Ashwin 7, 2072. The bid was opened on Ashwin 11 (yesterday). An official of Growmore Merchant Banking Limited, which managed the auction for Progressive finance, informed that the cutoff price for 84,276 units ordinary shares stood at Rs 115.11. The highest bid amount for the auction shares received was Rs 148.51. Total 87 applicants submitted their bids for 84,276 units of ordinary shares. Similarly, for 3, 18,500 units promoter shares the cut off price stood at Rs 100. The highest bid amount for the auction shares received was Rs 101. Total 5 applicants have submitted their bids for 3, 18,500 units promoter shares and all of them got shares. The last trading price of the shares stood at Rs 161 per share as on September 23.