Cutoff Price for auctioned ordinary and promoter shares of Sahara Bikas Bank stood at Rs 401 and Rs 227 respectively

Sahara Bikas Bank Limited (SHBL) had auctioned 5,905 units ordinary and 17,700 units promoter right shares to the general public from Poush 14, 2073 to Poush 21, 2073. The bid was opened on Poush 22, 2073. An official of Global IME Capital Limited, which managed the auction for Sahara Bikas Bank informed ShareSansar that the cut off price for the ordinary shares stood at Rs. 401.20. The highest bid amount received for the ordinary shares was Rs. 1,225. 22 applicants had applied for the ordinary shares, out of which 13 of them were allotted the shares. Similarly, the cutoff price for the promoter shares was Rs. 227.27. Out of 5 applicants, 3 applicants were allotted the promoter shares. One of them was allotted on a provisional basis. The highest bid amount received for the promoter shares was Rs. 301. The Last Trading Price (LTP) of Sahara Bikas Bank stood at Rs 1,279 as on May 17, 2016. Trading of SHBL is on halt in NEPSE following its merger with Sahayogi Bikas Bank. Sahara Bikas Bank posted a net loss of Rs. 23.70 lakh in the first quarter of the fiscal year 2073/74 as per its unaudited report.