Cut off price for 7 lakh units auctioned ordinary shares of Taragaon Regency Hotel by Nepal Bank stood Rs 243

Nepal Bank Limited (NBL) had invited sealed bids for 7 lakh units of ordinary shares of Taragoan Regency Hotel Limited (TRH) from Ashad 3, 2073 till Ashad 24, 2073. The closed bid was opened on Ashad 24, 2073 (Friday) at its issue manger Siddhartha Capital Limited at 3:15 PM in presence of the bidders and concerned officials. According to official of Siddhartha Capital Limited,   the bank set the cut-off price for the 7 lakh units ordinary shares of Taragaon Regency Hotel at Rs 243.  The highest bid amount for the auction shares received was Rs 265. Only 14 applicants were allotted shares out of 66 applicants who submitted their bids for 7 lakh units of ordinary shares of Taragaon Regency Hotel. The minimum bid amount was set at Rs 216. Interested applicants were required to bid for a minimum of 100 units of the scrip or above but the number of scrip applied should be divisible by 10. The last traded price (LTP) of TRH stood at Rs 245 as July 6, 2016.