Bid Opening Concludes for Gurans Life Insurance's auction: How much is the cut-off price?

Mon, Oct 12, 2020 5:17 PM on Auction, Latest,

The bid opening has concluded for the applications received in the auction of 3,37,565 units promoter and 2,52,449 units ordinary shares of Gurans Life Insurance.

The auction was open from Ashwin 13 and concluded on Ashwin 19, 2077. This was the unclaimed portion of the right share that was open for application from Ashad 14 to Shrawan 4 earlier this year.

The auction had started at 10 am this morning at NMB Capital, Naxal. According to the auction manager NMB Capital, the tentative cut off price is Rs. 166 for promoters and Rs. 604 for the general public. All applications bidding for a rate more than the respective cut-off price will get the shares. 

The highest bid was Rs. 175.30 for promoter shares and Rs. 636 for ordinary shares. 1,204 bids were received for the ordinary shares and 67 bids were received for the promoter shares.