Cutoff Price for 1.67 lakh units auctioned ordinary shares of Sagarmatha Finance at Rs 220; refunding to non-allottees from Chaitra 10
- ShareSansar, March 19, 2017 on Featured , Latest , Share Auction , Stock Market
Sagarmatha Finance Limited (SAFL) had auctioned 1,67,144.17 units ordinary shares and 7,20,318.83 units promoter shares from Falgun 26 to Chaitra 2, 2073. The bids were opened last Friday (Chaitra 4, 2073).
As per a press statement issued by the finance company, the cutoff price for ordinary shares stood at Rs 220. Bidders who had bid Rs 220 were allotted the shares on pro-rata basis and those who had bid Rs 221 and above were allotted all shares. Out of 1,002 valid applicants, only 78 applicants got the shares. Highest bid amount received was Rs 291 for the auctioned ordinary shares.
Likewise, out of the auctioned 7,20,318.83 promoter shares, only 1,54,040 shares were claimed. Only 5 applicants received as much shares as they had bid for. Maximum bid for auctioned promoter shares was Rs 104.
There were total 7 invalid applicants.
SAFL will be issuing refund warrants to the non-allottees from Chaitra 10, 2073 from their head office in Manbhawan, Lalitpur.