Reliance Finance refunding the non-allottee auction bidders from today ; Promoter shares to be re-auctioned from 26th Chaitra

Reliance Finance is refunding the non-allottees of auction from today.The refund amount will be sent in the respective bank account, as stated in the auction forms.

The company had auctioned ordinary as well promoter shares from 1st Chaitra to 8th Chaitra. The allotment for the auction was done on 15th, as per the prevailing law. 

As per the notice published by the company, 4 applications were received for promoter shares whereas 270 were received for ordinary shares. The 4 promoter bidders received the entire number of shares they asked for, however for ordinary shares, applicants bidding for Rs 106.11 and above received the entire number of units they had bid for. There were 60 applicants bidding for such amount. 21 applicants had bid for Rs 106 and are allotted partially.

Sunrise Capital has been managing the auction.

RLFL was last traded for Rs 117 in the local bourse. 

Re-auction of Promoter Shares

In the previous auction of Reliance Finance 5,35,314.52 units promoter shares remained unsold. The company has decided to re-auction those shares to general public from 26th Chaitra. The auction will end on 3rd Baisakh, 2075. The applicants can bid for minimum 1000 units at a price Rs 100 or above. 

The application form can be collected and submitted in Sunrise Capital, Kamalpokhari or designated branches of Sunrise Bank and Reliance Finance outside the valley.