Reliance Finance to re-auction 3.01 lakh units of promoter shares ; auction to commence from tomorrow

Reliance Finance has published a notice regarding the auction of unsold promoter shares from 8th Shrawan, 2075.

The company will auction 3,01,274.52  unit promoter shares to the general public. The company had previously auctioned 5.35 lakh unit promoter shares out of which 3.01 lakh units remained unsold. Those unsold shares are now availble for general public. Interested applicants can submit their bid from 8th shrawan to 16th shrawan, 2075 in Sunrise Capital, Nagpokharai. However, bid can also be submitted in the designated branches of Reliance finance and Sunrise Bank.

Interested applicants should bid for minimum of 1000 units at a price Rs 100 or above. 

Sunrise Capital will managing the auction.

Reliance finance had recently proposed 12% bonus shares for the shareholders. The capitalization of bonus and right shares will shoot the company's capital to Rs 83.24 crores. Being a finance company, Reliance finance needed to have a paid-up capital of Rs 80 crores.