Preliminary cut-off price for auctioned share of Central Finance stood at Rs. 111.01; no application received for promoter shares

The auction for the unsold 10.85 lakh unit right shares of Central Finance Limited (CFCL) has concluded. The finance company had issued 9,81,708.725 unit promoters share and 1,04,230.350 unit ordinary shares. Only the existing promoters can apply for the auctioned shares of promoters group.

NIBL Ace Capital is the issue manager for the auction.

According to the officials at NIBL Ace, the preliminary cutoff for ordinary stands at Rs. 111.01. A total of 235 applications were received for ordinary shares, however no applications came in for promoter shares. The maximum bid price was Rs 126.

After the adjustment of 50% right shares, its paid up capital will reach Rs 78.09 crore. It has also declared 8.50% bonus shares from the profit of FY 2073/74 which will take its capital to Rs 84.72 crore.