Progressive Finance's closing its 13.30 lakh units unsubscribed right shares auction from today; Bids to be accepted till 3 PM

Tue, Feb 5, 2019 7:32 AM on Auction, Latest, Stock Market,
Progressiv...

Progressive Finance Limited (PROFL) will be closing its unsubscribed 13,30,255 unit ordinary right shares auction from today (Magh 22, 2075). The bids will be accepted till 3 PM today.

Sunrise Capital Limited has been appointed as the issue manager for the re-auction of the shares. The application forms can be collected and submitted from the designated branches of Sunrise Capital and Sunrise Bank Limited.

The finance company has urged the interested applicants to place their bids for minimum 100 units with minimum bid price of Rs 100.

The interested applicants need to deposit the 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.

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