Shangrila Development Bank allots right shares; Unsold 9 lakh units to be  auctioned soon

Shangrila Development Bank (SADBL) has published a notice regarding the allotment of its right shares to its shareholders. The bank had issued 1,08,67,798.50 unit right shares in the ratio 10:8 in the par value of Rs 100 each. 11,732 shareholders were allotted 99,65,801 unit right shares on Chaitra 04, 2074. The development bank will be auctioning its unsold 9,01,997.50 unit right shares in the near future. Prabhu capital was the issue manager for the right share issue. The current paid up capital of SADBL is Rs 1.35 arba. After the issuance of right share, the paid up capital will reach Rs 2.44 arba. Announcement