Cutoff Price for 48,989.25 auctioned promoter shares of Sindhu Bikas Bank stood at Rs. 160

Sindhu Bikas Bank Limited (SINDU) had auctioned its unclaimed promoter right shares to the general public from Poush 14 to Poush 21, 2073. The cutoff price for the promoter shares was Rs. 160. As per an official of NIBL Capital Markets, that managed the auction, the cutoff price was Rs. 160. 13 applicants had bid for the auctioned shares out of which only 1 applicant got all the shares. The highest bid was Rs 160 itself, and the lowest bid was Rs 101. The development bank had auctioned 48,989.25 units promoter right shares after the rights shares issued on Shrawan 23, 2073 were not fully subscribed by the shareholders. The development bank had offered right shares in the ratio of 1:1. Earlier, the development bank had auctioned  81,282.75 units ordinary share and 1,92,485.25 units promoter right share from Mangsir 9 to Mangsir 17, 2073. Only 1,43,496 promoter shares (and all ordinary shares) were sold in auction then. The cut off price was Rs. 260 and Rs. 100 for ordinary and promoter shares respectively. Its last traded price stood at Rs 341 as on December 15, 2016; and that of promoter shares stood at Rs. 250 as of November 24, 2016.