Progressive finance closing the auction of its 6.67 lakh units ordinary share from today; LTP stood at Rs 123

Thu, Apr 11, 2019 6:35 AM on Auction, IPO/FPO News, Latest, Stock Market,

Progressive Finance Limited (PROFL) is closing the auction of its unsold right shares from today (Chaitra 28, 2075). The bids was opened since Chaitra 20, 2075.

Earlier in Magh, the finance company auctioned 13,30,255 units ordinary shares but not all the shares were subscribed then. The finance company is selling remaining 6,67,305 units ordinary shares via auction.

Sunrise Capital Limited has been appointed as the issue manager for the right share auction.

Minimum 100 units can be applied for ordinary shares. Minimum bid price has been set as Rs 100 i.e bid price should be placed at Rs 100 or above Rs 100.

The finance company has urged the interested bidders to deposit entire bid amount in A/C No. 0690371114401005 of Sunrise Bank Limited in the name of Sunrise Capital Limited.

The finance company’s current capital of Rs 21 crore will increase to Rs 80.01 crore after the adjustment of 281% right shares.

The last trading price of Progressive Finance is Rs 123 traded on April 2.

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