Cut off price for 71,773 units ordinary shares of Shangri-La Dev. Bank stood at Rs 367; LTP at Rs 398

Shangri-La Development Bank Limited (SADBL) had auctioned its 71,773 units ordinary unsold right shares to the general public from Baisakh 17, 2073 till Baisakh 26, 2073. The bid was opened yesterday at 3:00 pm. According to official of NMB Capital Limited, “the bank set the cut-off price for the 71,773 unit ordinary shares at Rs 367.  The highest bid amount for the auction shares received was Rs 405 and lowest bid amount was Rs 102.50. Total 214 applicants submitted their bids for 71,773 units of ordinary shares. The given data are just preliminary data. The detailed information about the allotment of the auctioned share will be revealed on Thursday. Shangri-La Development Bank has postponed auction of unsold 9, 67,540 units promoter right share due to the ongoing dispute at SEBON to bid for the application of promoter right share by the general public too. As promoter shareholders of SADBL can only bid for the auctioned 9, 67,540 unit promoters shares. SADBL has earned net profit of Rs 73.6 crore in the second quarter of the fiscal year 2072/73. The last trading price (LTP) of the shares stood at Rs 398 as on May 9, 2016.