Central Finance Auction : Cutoff for ordinary shares stood at Rs 111.01

The bid opening program for Central Finance has successfully been conducted at NIBL ACE Capital premises.

As per the officials of NIBL ACE Capital, the preliminary cutoff for ordinary shares stood at Rs 111.01. A total of 235 applicants had submitted their bid for ordinary shares. In case of promoters, no application was received, so the shares will be re-auctioned soon. 

The company had auctioned 9,81,708.725 unit Promoter and 1,04,230.35 unit ordinary shares. The auction commenced from 20th Baisakh and ended on 27th Baisakh, 2075. 

Central finance had prebiously issued 50% right shares from 23rd Poush to 13th Falgun, 2074. The unclaimed shares were the one auctioned to the general public. However, only existing promoters could apply for promoter shares.

NIBL Capital is managing the auction.

Central finance is a merged entity formed after the merger of Bhaktapur finance and Central finance at a swap ratio of 1:1. The company will meet the central bank's capital requirement after the capitalization of right and bonus. The company had recently announced 8.5% bonus for shareholders