Reliance Finance auction of 1.88 lakhs unit promoter shares opens from today ; Shares unsold from previous 3 auctions
Fri, Mar 1, 2019 6:40 AM on Auction, Latest, Stock Market,
Reliance Finance's 188,874.52 units unsold right shares (promoters) auction opens from today (Falgun 17, 2075) after the auction done earlier was not fully subscribed. The bids will be accepted till Chaitra 1, 2075. Earlier, Reliance Finance Limited had auctioned total 301,274.52 units out of which only 112,400 units got subscribed.
The interested bidders can place minimum bids for 1,000 units and can apply for all the unit shares as maximum. The minimum bid price have been set as Rs 100.
Sunrise Capital has been appointed as the issue manager for the auction of the shares.
The finance company has urged the interested bidders to deposit the bid amount in A/C no. 0690371114401010 in Sunrise Bank Limited in the name of Sunrise Capital or in A/C no. 10211090000273 in Reliance Finance Limited.
This is the 4th auction for the same shares. The finance company had auctioned 5,42,314.52 unit shares at first auction.
RLFL had declared 12% bonus shares for its shareholders from the profit of 2073/74 FY. The AGM of both 2073/74 and 2074/75 is due to happen. Its paid-up capital will reach Rs 83.24 crore from existing Rs 51.25 crore after the adjustment of 45% right shares and 12% bonus shares. Hence, it will meet the capital requirement of Rs 80 crore.
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