Prabhu bank to float 40% right from Magh 7th; issue to end on Falgun 13

Right issue of Prabhu bank is to commence from Magh 7th (jan 21st, 2018). The eligible shareholders can apply for the shares upto Falgun 13th (Feb 25th, 2018). Shareholders having the shares at the time of bookclose are eligible for the right share. The shareholders book will close on 21st Poush 2074. 

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

Sunrise Capital has been appointed as the issue manager for the right issue. 

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

Prabhu was last traded at Rs 318 in the stock exchange.