Cut off price for 2.40 lakh unit auctioned ordinary shares of Siddhartha Bank stood Rs 417; promoter cutoff at Rs 215

Siddhartha Bank Limited (SBL) had auctioned its 13,550.87 units promoter shares and 2,40,371.26 units ordinary shares right share to the general public from Bhadra 6, 2074 till Bhadra 14, 2074. The bids were opened today at Siddhartha Capital, Naxal at 7 AM. An official of Siddhartha Capital Limited, which managed the auction for Siddhartha Bank Limited, informed that the cut off price for 2.40 lakh units ordinary shares stood at Rs 417. The highest bid amount for the auction shares received was Rs 500. Total 910 applicants have submitted their bids for ordinary shares and 274 of them grabbed shares. Similarly, for 13,550.87 units promoter shares, the bank has set a cut off price of Rs. 215. The highest bid amount for the promoter shares received was Rs 305. Total 5 applicants had submitted their bids for promoter shares and 2 of them got shares. SBL has earned net profit of Rs 1.41 arba in the fourth quarter of the last FY 2073/74. Its last traded price stood at Rs 427 as on August 30, 2017.