Prabhu Bank to Convert 5.6 Mn Promoter Shares

May 17, 2019 Merolagani

Prabhu Bank (PRVU) is set to convert 5,611,271 units of promoter shares to ordinary shares. the 17th AGM of the bank held on March 3 endorsed a proposal of converting 6.31 percent promoter shares to ordinary.

Currently, the bank maintains a promoter and ordinary shareholder ratio of 61.31:38.69. The bank will convert 6.31 percent i.e. 5,611,271 promoter shares to ordinary shares.

The bank clarified that the promoters who are not listed in Credit Information Bureau are eligible to convert their shares.

After the conversion, the bank will maintain 55:45 ratio of promoter and ordinary shareholders.


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Multipurpose Finance Reschedules Book Close and AGM Date

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