9 bidders grabbed 4,082 units auctioned ordinary shares of Summit Microfinance; Cut-off price stood Rs 1,606

Summit Microfinance Development Bank Limited (SMFDB) had auctioned its 4,082 units ordinary shares and 22,467 unit promoter shares to the general public from Mangsir 4, 2074 till Mangsir 11, 2074. The bids were opened on Mangsir 18, 2074 at Sanima Capital, Naxal at  3 PM. An official of Sanima Capital Limited, which managed the auction for SMFDB informed that, the cut off price for 4,082 unit ordinary shares stood at Rs 1,606. The highest bid amount for the auction shares received was Rs 1,761. Total 117 applicants have submitted their bids for ordinary shares and only 9 of them grabbed shares. Similarly, for 22,467 units promoter shares, the cut off price was Rs. 225. The highest bid amount received was Rs 355.09. Total 10 applicants submitted their bids for promoter shares and 5 of them grabbed shares. All the promoter shares were subscribed by the investors. Its current paid up capital stands at Rs 7.25 crore. After the issuance of 100% right shares, its paid up capital will reach Rs 14.5 crore. Also from the net profit of FY 2073/74, it had announced 34.48% bonus shares and 10.52% cash dividend. After bonus shares, its paid up capital will reach to Rs 17 crore. SMFDB has earned Rs 80.21 lakh in the first quarter of the FY 2074/75. Its last traded price (LTP) stood at Rs 1,920 as of yesterday.