Best Finance promoter share Auction : Tentative Cutoff stood at Rs 100.05 !!!

The bid opening program of auction for Best Finance promoter shares was successfully conducted on friday. 

As per the sources, the cutoff for the auctioned shares stood at Rs 100.05. The company had actioned 75,340 unit shares but applications demanding 77,000 units were received by the company. A total of 17 applications were received, out of which 15 were fully allotted. An application bidding a price as high as Rs 112.50 was also received. 

Best Financr had re-auctioned the stated amount of promoter shares from Baisakh 31st to 8th Jestha, 2075. The company had previously auctioned 1.06 lakh unit promoter shares, out of which 75,340 remained usold. 

The then General Finance Company had floated 16.52 lakh unit right shares at a ratio 1:1.25 from 27th Bhadra, 2074 . 

Global IME Capital was managing the auction.

The company Paid-up capital will rise to Rs 38.54 crores after the auction. The company is on a verge to acquire synergy finance which will again increase the company's capital. Best Finance earned a net profit of Rs 3.46 crores as of 3rd quarter of this fy.