Preliminary cut-off price for auctioned share of Siddhartha Bank at Rs 315; Cut off for promoter share stood at Rs 181

The auction for the unsold 2,14,336.19 unit right shares of  Siddhartha Bank Limited (SBL) including 40,020.64 unit promoter shares and 1,74,315.55 unit ordinary shares has concluded.

Promoter Share

As per the official of Siddhartha Capital, the cutoff for promoter share stands at Rs 181. A total of 13 applications were received for 1,35,725 shares, out of which only 2 applicants were allotted. The maximum bid received was Rs 208 and maximum number of shares were taken by these bidders.

Ordinary Share

The cutoff for ordinary shares stood at Rs 315. A total of 1,336 applications were received for 14,69,291 unit shares, out of which 194 applicants will be allotted. The maximum bid received was Rs. 350.

Siddhartha Capital had been appointed as the issue manager for the right share auction.

The bank had issued 10% right shares worth Rs 64.26 crore. After the adjustment of right shares, the paid-up capital of the bank will reach Rs 7.50 arba. The bank has already distributed 14% bonus shares for its shareholders from the profit of FY 2073/74, after which its paid up capital will stand at Rs 8.45 arba.