NIC Asia concludes bid opening of Swadeshi Laghubitta auctioned shares; cut off stands at Rs.470

Microfinance company, Swadeshi Laghubitta (SDESI) had been selling 62,005 unit ordinary shares. NIC Asia Capital has been appointed as the issue manager for the auction of the shares.

As per the issue manager, a total of 393 applications were received out of which only 130 applicants have been allotted shares. The cut off for the same stands at Rs.470 per share. The maximum bid was received at Rs.590 per share. The auctioned shares have been fully subscribed.

SDESI had issued 100% right shares for its shareholders which will raise its paid-up capital to Rs.23 Crore after adjustment.