Shangri-la Development bank to auction 9.01 lakh unit shares from 13th Chaitra; includes 5.09 lakh ordinary and 3.92 lakh promoter

The auction of Shangri-la Development bank is starting from tomorrow (13th Chaitra) and will end on 20th Chaitra 2074. 

Shangri-la had issued 1,08,67,798.50 unit right shares at a ratio 10:8 from 17th Poush to 29th Magh, 2074. Approximately 8.30% of the right issue remained unclaimed and hence being auctioned. The company had announced to auction 9,01,997.50 units of unclaimed right shares. This includes 5,09,225 unit ordinary and 3,92,772.50 units promoter shares. 

Prabhu Capital Ltd will be managing the issue. The interested bidders can collect and submit the forms from Prabhu capital market, Kamaladi or stated branches of Shangri-la development bank and Prabhu bank outside the valley. 

Interested applicants can bid 100 or more unit of shares at a price Rs 100 or above. Applicants bidding the highest price will be allotted with shares. 

SADBL was last traded at Rs 164 in the stock exchange.