Siddhartha Bank Auction : tentative cutoff for ordinary shares Rs 315

The bid opening program for Siddhartha Bank Limited has successfully been conducted today at the premises of Siddhartha capital, Naxal, Kathmandu.

As per the official of Siddhartha Capital, the Preliminary cutoff for ordinary shares stood at Rs 315 whereas Rs 181 for promoter shares. The full result is yet to be published. Other information about the number of applicants and highest bidders will be published after a finalization. 

The auction commenced on 3rd Jestha and ended on 10th Jestha 2075. This includes 40,020.64 unit promoter shares and 1,74,315.55 unit ordinary shares.

Siddharth Capital was appointed as an issue manager for this purpose.

The company had recently floated a right share of 10% and also announced a bonus share of 14%. The capital, after both right and bonus, will meet the paid-up capital requirement for commercial banks.