Auction of 28,082 unit unsold right shares of Suryodaya Laghubitta concludes; Cutoff stood at Rs 1,552.60 for ordinary shares & Rs 275 for the promoter shares

Suryodaya Laghubitta Bittiya Sanstha (SLBS) had auctioned 28,082 units unsold right shares from Jestha 13 till Jestha 20, 2075. The bids were opened yesterday at 4:00 AM at Global IME Capital Market.

Out of the auctioned 28,082 unit right shares, only the existing promoters were eligible to apply for the 8,400 unit right shares of promoters group.

As per an official of Global IME Capital, there was demand for all 28,082 units from 114 applicants. Highest price of Rs 1,670 per share were received as bids where the cut-off price stood at Rs 1,552.60 per share for the ordinary shareholders group. Incase of promoter shares the cutoff price was Rs 275. 8 applicants had applied for the promoter shares.

Out of the total applicants, only 14 applicants have been allotted the shares out of which 2 applicants are from the promoters group. The auctioned shares have been fully subscribed.

After the adjustment of the 70% rights shares, the microfinance’s total paid-up capital will reach Rs 6.8 crore from the existing Rs 4 crore. 

It had earned Rs 1.44 crore in the third quarter of the FY 2074/75. Its last traded price stood at Rs 1,600 as of yesterday.