Reliance Finance to Auction Unsold Promoter Right Shares For 3rd Time

Jul 17, 2018 Merolagani

Reliance Finance (RLFL) is set to auction unsold promoter right shares for the third time. The company is auctioning 301,274.52 units of unsold promoter right shares from July 24 to August 1.

Earlier, the company auctioned 535,314.52 units of promoter right shares from April 9 to 16. In that auction, only 234,040 units of promoter shares were sold.

 According to the company, the interested bidders can bid for a minimum of 1000 units of shares at a minimum price of Rs 100. The company is opening the re-auction to both existing promoter shareholders and general investors.

Reliance Finance has appointed Sunrise Capital as its issue manager. The interested bidders can bid for the shares from Sunrise Capital, Kamalpokhari, Kathmandu as well as Pokhara, Chitwan, Kavre, Jhapa branch of Reliance Finance and Biratnagar, Birgunj, Butwal, Nepalgunj, Surkhet and Dhangadhi branch of Sunrise Bank.

Presently, Reliance Finance has a paid-up capital of Rs 512.5 million that will reach Rs 743.2 million after adjustment of the right issue.


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