Cutoff of auctioned ordinary shares of Multipurpose Finance at Rs 103.10; Promoter shares not fully subscribed

Multipurpose Finance Limited (MPFL) had auctioned 20 lakh units of unsubscribed right shares through auction from Poush 14 till Poush 18, 2076. The company had auctioned 1,850,721 units of promoter shares and 149,657 units of ordinary shares.

Civil Capital Market has been appointed as the issue manager.

According to the issue manager, the cutoff of ordinary shares stood at Rs 103.10. All the applicants bidding till Rs 103.11 have been fully allotted and bids of Rs 103.10 have been allotted on a pro-rata basis. A total of 41 applications were received applying for 236,256 unit shares.

Likewise, in the case of promoter shares, only 2 applications were received applying for 91,100 units. The lower bid was received at Rs 100. The applicants have been fully allotted and the remaining share will have to be auctioned again.

MPFL had issued 3.58 Million units as 864.47% right shares.