36 investor’s allotted 16,386 units auctioned ordinary shares of Sahayogi Bikas Bank; Cutoff price at Rs 357

Sahayogi Bikas Bank Limited (SBBLJ) had auctioned 16,386 units ordinary shares from Asadh 29 to Shrawan 5, 2074. The bids was opened today at Sunrise Capital, Kamalpokhari at 1 PM. As per the preliminary data received, the cutoff price for ordinary auctioned shares stood at Rs 357. The highest bid amount received was Rs 385. Total 143 applicants have submitted bid for 16,386 unit auctioned ordinaryshares and only 36 applicants got shares. No institutional investors were allotted in this auction, all the shares were grabbed by the individual investors. The bank will be refunding auction money from Shrawan 12, 2074. SBBLJ has earned net profit has of Rs 9.29 crore in the third quarter of the fiscal year 2073/74. Its paid-up capital stands at Rs 31.46 crore and after capitalization of 35% right share (including these auctioned shares), its paid up capital will reach Rs 42.47 crore. As a 1-3 district level development bank, SBBLJ should increase its paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74. Its LTP stood at Rs 370 as of yesterday (July 19, 2017).