Prabhu Bank Auction : Refund to non-allottees from tomorrow

Prabhu Bank has published a notice specifying the dates for refund. 

As per the notice, the refund to the non-allottees will be done from tomorrow i.e. 2nd Shrawan, 2075. 

Prabhu Bank had auctioned 15,60,203 units promoter shares and 6,71,062 units ordinary shares. The auction commenced from 11th Ashad and ended on 18th Ashad. The bank had floated 40% right share of 2,35,25.608 units, out of which around 2,11,99,321 units were claimed by the eligible shareholders. Around 23.26 lakh units (approx. 10% of the issued quantity) remained usubscribed and were the one auctioned.

Prabhu Capital was managing the auction.

The company currently has a paid-up capital of Rs  5.88 arba. The capital will meet the required capital requirement after the listing the right shares. 

Also Read : Tentative Cutoff of Prabhu Bank Shares