Prabhu Bank to auction 22.31 lakh unit shares from 11th Ashad !!!

Prabhu Bank has published a notice regarding the auction of unsold right shares.

As per the notice, the company will auction 15,60,203 units promoter shares and 6,71,062 units ordinary shares. The auction will commence from 11th Ashad and end on 18th Ashad, 2075. 

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 50% 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 had 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 199 in the stock exchange.