Last day to place bids for the re-auctioned 2.77 lakh unit promoter shares of Shree Investment & Finance; General public can also place their bids till today

Today is the closing day of the re-auction for 2.77 lakh unit promoter shares of Shree Investment & Finance Company Limited (SIFC).

Shree Investment and Finance Company had published a notice regarding the re-auction of its unsold promoters right shares. The interested bidders could place their bids from Chaitra 28, 2074 till Baisakh 05, 2075 (i.e. today) for 2,77,996.23 unit shares.

The finance company had auctioned 66.37 thousand unit ordinary right shares and 2.77 lakh unit promoter right shares from Chaitra 8 till Chaitra 16, 2074. However, the right shares of promoters group went completely unsold in the previous auction. Now, the general public can place bids for the right shares of the promoters group.

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 100 units of shares for both the group and the shares applied for should be a multiple of 10.

Siddhartha Capital has been appointed as the issue manager for the re-auction.

The investors applying for the auction can deposit the bid amount in the account number 00115295849 in Siddhartha Bank Limited or account number 19080000000053 in Shree Investment and Finance Company or can apply by issuing good for payment cheque.

It's 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%).

Notice