Prabhu Bank allots 40% right shares; 23.26 lakh units remains unclaimed

Prabhu Bank has allotted 40% right shares to the shareholders. 

The company had issued a 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 will be auctioned among general public soon.

Right issue of Prabhu bank was issued from Magh 7th (Jan 21st, 2018) to Falgun 23rd. Shareholders having the shares at the time of bookclose are eligible to apply for right share. The shareholders book closed on 21st Poush 2074. 

SEBON granted an approval for the stated purpose on Poush 6th. 

Sunrise Capital was the issue manager for the right issue. 

Prabhu Bank is issued 2.35 crore unit right shares at a face value of Rs 100. The company currently had a paid-up capital of Rs  5.88 arba. The capital will meet the required capital requirement after the listing the right shares.