Reliance Finance Limited successfully auctions off all unsold promoter right shares in the fourth attempt; total of three applicants received

Sunrise Capital, the issue manager of auction of unsold promoter right shares of Reliance Finance Limited (RLFL) has concluded the bid opening of the auction.

Reliance Finance's 188,874.52 units unsold right shares (promoters) auction closed on Chaitra 1, 2075. This auction was opened since Falgun 17. The bid opening date was on Chaitra 5, 2075.

The unsold right shares that had been up for auction for the fourth time, received application from 3 applicants who fully subscribed for the share. The cut off price for the same stood at Rs.100.

RLFL had declared 12% bonus shares for its shareholders from the profit of 2073/74 FY. And 2.63% cash dividend from 2074/75 FY profits. 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.