Prabhu Bank allots 40% right shares to the shareholders; Unsold 23.26 lakh units to be sold via auction

Mon, Apr 16, 2018 6:33 AM on Dividend, Bonus & Rights, Latest, Share Allotment, Stock Market,
Prabhu Ban...

Prabhu Bank Limited (PRVU) has allotted its 40% right shares to the shareholders.

The bank had issued 2,35,25,608 unit right shares at par value of Rs 100 from Magh 07 till Falgun 23. The bank has allotted 2,11,99,321 unit shares to the applicant shareholders.

Sunrise Capital is the issue manager for the right share issuance.

Remaining 23,26,287 lakh unit unsold right shares will be sold via auction in the near future.

Its paid up capital will reach to Rs 8.24 arba after 40% right share adjustment from existing Rs 5.88 arba. It had posted net profit of Rs 63.49 crore in the second quarter of the FY 2074/75.