Shree Investment & Finance allotted 83% (28.67 lakh unit) right shares; auctioning unsold shares soon to the general public

Shree Investment & Finance Company Limited (SIFC) has allotted right shares. As per the notice published in newspaper today, the finance company has allotted 83% right shares, i.e 28,67,226 unit to its shareholders. Now, the finance company will be selling all the unsubscribed shares to the general public at Rs 100 & above, which might be great opportunity to grab the shares at cheapest price than market price of the finance company being traded around at Rs 234. SIFC had floated right shares from Magh 15 to Falgun 20, 2074. Its paid up capital stand at Rs 34.54 crore. After adjustment 83% right share, its paid up capital reached to Rs 63.20 crore, As per NRB’s requirement for all finance company to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74, SIFC will need to issue a further capital hike of Rs 16.8 crore (around 26.5%). It had earned Rs 3.48 crore in the second quarter of the FY 2074/75.