Prabhu Bank Auction : Bid opening tomorrow

The bid opening for 15,60,203 unit promoter group and 6,71,062 unit ordinary shareholders group shares is scheduled to be done on Ashadh 25, 2075. 

The officials of the issue manager company has also clarified that the 95,000 shares were alloted to the genuine shareholders who had applied for the right shares. The problem in system caused a delay in application collection, as a result inspite of their funds being blocked, they weren't alloted with the shares. The company however, upon taking an approval with the governing body had alloted the shares to the respective shareholders. 

Prabhu Capital Limited has been managing the auction.

The auction commenced from 11th Ashad and closed on 18th Ashad. 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 were auctioned among general public.

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.