Surya Life rights shares auction: Yeti Dev Bank grabs it all for Rs 501

ShareSansar, December 3:

The auction of 81,060 units of unclaimed rights shares of Surya Life Insurance Company Limited, including 14,905 promoter shares and 66,155 ordinary shares, has concluded today.

None of the bidders who bid below Rs 501 units get any shares in the auction since a single bidder, Yeti Development Bank, had applied for all the shares for Rs 501 per unit and nobody else bid for more than Rs 501, Elite Capital Limited, the issue manager, told ShareSansar.com.

Shares of Surya Nepal Life Insurance Company Limited were traded for Rs 495 before the share market closed yesterday.

More than 300 applications were made for the auction of the unclaimed rights shares.

Surya Life had called closed bid for the auction of unclaimed rights shares at a bid price of Rs 100 on November 26 after there was no application during the rights share issuance.

The bid had closed yesterday.

Bidders could apply for a minimum of 100 units of rights shares and the maximum of 81,060 units.