Last day to place bids for 5.35 lakh units auctioned right shares of Reliance Finance

Mon, Apr 16, 2018 6:19 AM on Auction, Dividend, Bonus & Rights, Latest, Stock Market,
Last day t...

Today is the last day for placing the bids for 5.35 lakh unit promoters right shares of Reliance Finance Limited (RLFL). The auction was open from Chaitra 26, 2074.

Out of 5,42,314.52 units shares, only 7,000 units were sold in the previous auction. So, the company has published notice regarding the re-auction of 5,35,314.52 unit right shares.

Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100.Interested bidders must bid for a minimum of 1000 units of shares for promoter category. Here, existing promoter and general public also are eligible to apply for promoter shares.

Sunrise Capital is the issue manager for this auction.

Interested investors can collect bid forms from Sunrise Capital Limited, Kamalpokhari, Kathmandu, designated branches of RLFL and Sunrise Bank Limited and submit their bids within 3 PM on Baisakh 03, 2075 (today).

The finance company has urged all bidders to deposit the bid amount in account number 0690371114401010 maintained in the name of Sunrise Capital at Sunrise Bank Limited or in 10211090000273 maintained at RLFL or can issue Good for Payment cheque as well.

RLFL’s current paid up capital remains at Rs 51.25 crore. After issuance of 45% right share, its paid up capital will reach Rs 74.32 crore. As per NRB’s directive for all national level finance companies to increase their paid up capital to a minimum of Rs 80 crore, RLFL should increase a further capital hike of Rs 5.68 crore (around 7.65%).It had earned Rs 10.98 crore in the FY 2073/74.