Shangrila Development Bank allots its  3,92,772.50 unit promoter and 5,09,225 units public shares in auction; cut-off at Rs 105 and Rs 142 respectively

Shangrila Development Bank has allotted its  3,92,772.50 unit shares for the promoters and 5,09,225 units public right shares in its auction on Chaitra 27, 2074.

As per the information published by the bank, all the applicants who had submitted their bids for the public shares quoting more than Rs 142 have been allotted with full quantity while those one who had submitted their bids quoting Rs 142 have been allotted with 16.10% of the demanded shares.

In case of promoter shares, one who had submitted their bids quoting Rs more than Rs 105 have been allotted with total demanded shares while ones with Rs 105 quoted have received 54.22% of the demanded shares.

The auction had raised Rs 4,02,55,401 from the 57 promoter bidders while Rs 5,09,225 from 353 public bidders.

After the successful conclusion of the right share issuance and capitalization of those shares, the development bank will have paid up capital of Rs 2.50 arba.