Gurans Life Insurance share auction: Rs 370 cut-off for ordinary scrip; 135 for promoter

ShareSansar, January 29:

The auction of 4,850 units of its promoter shares and 41,112 units of ordinary share of Gurans Life Insurance Company Limited was completed yesterday.

According to the sources privy of the auction, Rs 370 was the cut-off rate for the ordinary shares, which is quite impressive.

There were 272 applicants for the ordinary shares.

Likewise, Rs 135 was the cut-off price for the promoter shares.

Chanda Kumari Begani, one of the promoters of insurance company, bid all the promoter shares at Rs 135.

The insurance company had opened the bid for the auction yesterday.

Minimum Bid Price for all the 45,962 unit shares had been fixed at Rs 100, and that the bidder had to apply for a minimum of 100 units.

The bidder also had to deposit the entire quoted amount on an account designated for the auction at NMB Bank Limited.
 
NMB Capital Limited at Babar Mahal, Kathmandu is the issue manager.