Cutoff Price for 28,289.50 auctioned ordinary shares of Guheshwori Mechant stood at Rs 232

Guheshwori Merchant Banking and Finance Limited (GMFIL) had been auctioning 28,289.50 ordinary right shares to the general public from Poush 20 to Poush 25, 2073. The cutoff price for the auctioned shares stood at Rs 232. As per an official of NIBL Capital Markets, that managed the auction, the cutoff price was Rs 232. 122 applicants had bid for the auctioned shares, out of which only 2 applicants got all the shares. The highest bid was Rs 243.50, and the lowest bid was for Rs 120 per share. The finance company had auctioned 28,289.50 units ordinary shares after the rights shares issued on Ashwin 21, 2073  were not fully subscribed by the investors. The finance company had offered right shares at the ratio of 2:1. Its last traded price stood at Rs 226 as on January 10, 2017.