Last day to place bid for Prabhu Bank Auction ; LTP Rs 182

Today is the last day to place bid for Prabhu Bank auction. 

The company is auctioning 15,60,203 units promoter shares and 6,71,062 units ordinary shares. The auction commenced from 11th Ashad and is scheduled to close today. 

One can bid for minimum of 100 units for ordinary shares and 1000 units for promoter shares at a price Rs 100 or above. Ordinary shareholders can also apply for promoter shares. Applicants can submit their bid at Prabhu Capital, Kamaladi or Designated branches of Prabhu Bank in the major cities of the country. The payment procedure as prescribed in the forms can be followed. 

Prabhu bank had floated 40% right share of 2,35,25.608 units, out of which around 2,11,99,321 units were claimed by the eligible shareholders. Around 23.26 lakh units (approx. 10% of the issued quantity) remained usubscribed and are now to be auctioned among general public soon.

The company currently has a paid-up capital of Rs  5.88 arba. The capital will meet the required capital requirement after the listing the right shares. 

Prabhu Bank was last traded for Rs 182 in the stock exchange. Thus, one applying for auction should place bid for a price below the market price.