SMBF auction: Rs 152.50 cut-off price for ordinary share and Rs 101 for promoters

ShareSansar, July 6:

Auction for the unclaimed ordinary share of 45,577 units and promoters shares of 177,461 units of Sagarmatha Merchant Banking and Finance was held on July 4.

According to an official from Sagarmatha Merchant, there were 155 applicants for ordinary share. The cut-off rate was Rs 152.50 and the highest bid amount was Rs 170, which was same as the last traded price of the scrip.
 
Likewise, there were only two bidders for the promoter share and there was tie between them at the cut-off rate Rs 101.  

Inviting the bids on June 26, the company had urged the interested bidders to submit their bids by 5:00 PM on July 3.

As the minimum price set for the auction was Rs 100, the bidders had to quote more than that amount for the auction.