Shree Investment and Finance Promoter share Auction : Cutoff stood at Rs 106

The bid opening for 2.77 lakh promoter shares concluded today at Siddhartha Capital premises. As per the officials, cut-off for the said amount of promoter shares stood at Rs 106. A total of 64 applicants had bid for the auction.  

Shree Investment and Finance had re-auctioned 2.77 lakh unclaimed promoter shares to existing promoters as well as general public. The auction started from 28th Chaitra and closed on 5th Baisakh, 2075.

The company had previously auctioned 66,377 unit ordinary shares and 2,77,996.53 units promoter shares. The cut-off for ordinary shares stood at Rs 186 whereas no application was received for promoter shares. Thus, the company re-sold the stated number of promoter shares. Only existing promoters of the company were allowed to bid previously. 

Shree Investment and Finance had floated 28.67 lakh unit right shares at a ratio 100:83 from 15th Magh. The right issue closed on 20th Falgun, 2074, where approx. 3.44 lakh (12%) shares were unsubscribed. Those shares were auctioned among general public.

Siddhartha Capital has managed the auction.