Cutoff Price for 5.66 lakh units auctioned promoter shares of Sagarmatha Finance stood at Rs 106

Sagarmatha Finance Limited (SAFL) had auctioned 5,66,278.83 units unsold promoter shares from 7^th Chaitra to 15^th Chaitra, 2073. The bids were opened today at 1:00 PM. As per an official of SAFL, the cutoff price for 5.66 lakh units promoter shares stood at Rs 106. Out of 83 applicants, only 59 applicants got the shares. The highest bid amount received for the shares was Rs 150 and lowest was Rs 100. SAFL had auctioned 7.20 lakh units promoter shares and 1.67 lakh units ordinary shares from 26^th Falgun to 2^nd Chaitra, 2073 after its earlier floated 80% right shares were not claimed by its shareholders. Sagarmatha Finance Limited has earned net profit of Rs 5.61 crore in the second quarter of the fiscal year 2073/74. Its paid up capital remains at Rs 36.92 crore. After the capitalization of 80% right shares, its paid up capital will reach Rs 66.45 crore. It is under acquisition process by Century Commercial Bank Limited.