Siddhartha Insurance share auction: tie at Rs 462 cut-off for ordinary; Rs 100 for promoters

ShareSansar, April 10:

Siddhartha Insurance Limited has completed the auction 30,883 units of its promoter shares and 63,268 units of the ordinary shares.

According to sources, Rs 462 is the cut-off price for the auction of the ordinary shares and that there is a tie between six applicants there.

“Since there was a tie, the shares have been allotted on a proportional basis for all the six applicants,” the source added.

The highest bid amount is Rs 561, and that there are 88 applicants who had bid in between Rs 462 and Rs 561.

There were a total of 230 valid applicants for the ordinary shares.

Likewise, there is a tie at Rs 100 among the promoter shareholders, and all the shares were divided among them.

The insurer had invited bids on March 31 at a minimum bid price of Rs 100, and the bids had closed on April 7.
 
NMB Capital Limited at Babar Mahal, Kathmandu is the issue manager.