Shares of 24 different companies auctioned by Siddhartha Investment Growth Scheme-1 grabbed by LICN, National Life Insurance & Siddhartha Equity Fund
Wed, Jan 17, 2018 1:06 PM on Latest, Featured, Stock Market,
Siddhartha Investment Growth Scheme-1 (SIGS1) has successfully concluded the auction of shares of 24 different companies.
As per Mr. Dhruba Timilsina, CEO of Siddhartha Capital, “Out of 17 bidders, only 3 bidders grabbed all the shares. Most of the applications were found to be invalid due to mistake of bid amount, for not bidding all companies and so on". He further added that SIGS1 will cash all the shares till Magh 24, 2074 and they are in the process to get real costing of the unit holders those who have bought from secondary market from Nepal Stock Exchange (NEPSE). He also said that the unit holders will get refund from Falgun, 2074.
National Life Insurance Company Limited (NLICL) bid for 25% of the total auctioned shares of worth Rs 2.35 crore and was allotted with cent percent as demanded. Similarly, Life Insurance Corporation Nepal (LICN) bid for 50% of the total auctioned shares of worth Rs 4.61 crore and was also allotted with cent percent as demanded. Lastly, Siddhartha Equity Fund (SEF) bid for 100% of the total auctioned shares of Rs 7.69 crore, but was allotted only with 25% of the shares as demanded by the SEF.
If the closing price of January 16, 2018 was taken into account, Rs 8.71 crore worth shares were allotted for Rs 8.88 crore (price of MEGA, TDBL and RBBBL were adjusted for their respective right and bonus shares).
The application for the auction was open from Poush 26 to Magh 2, 2074. Interested bidders were required to bid for minimum 25% or 50% or 75% or 100% shares of all the companies.
National Life Insurance Company Limited (NLICL) bid for 25% of the total auctioned shares of worth Rs 2.35 crore and was allotted with cent percent as demanded. Similarly, Life Insurance Corporation Nepal (LICN) bid for 50% of the total auctioned shares of worth Rs 4.61 crore and was also allotted with cent percent as demanded. Lastly, Siddhartha Equity Fund (SEF) bid for 100% of the total auctioned shares of Rs 7.69 crore, but was allotted only with 25% of the shares as demanded by the SEF.
If the closing price of January 16, 2018 was taken into account, Rs 8.71 crore worth shares were allotted for Rs 8.88 crore (price of MEGA, TDBL and RBBBL were adjusted for their respective right and bonus shares).
The application for the auction was open from Poush 26 to Magh 2, 2074. Interested bidders were required to bid for minimum 25% or 50% or 75% or 100% shares of all the companies.
