Bids Opened for Auction of IGI Shares; What is the Cut-Off Rate?

The bids received in the auction of 2,261 unit promoter shares and 88,934 unit ordinary shares of IME General Insurance Limited (IGI) have been opened today, i.e. 28th Baisakh, 2079.

The auction had opened on 12th Baisakh and concluded on 21st Baisakh, 2079 at the end of banking hours. 2,261 unit promoter shares and 88,934 unit ordinary shares were auctioned. Global IME Capital Limited was appointed the auction manager. Bids had opened today at the premises of the auction manager, Naxal, Kathmandu, starting at 8: 30 am. The existing promoters, general public, and institutions were all eligible to bid for the auction.

Global IME Capital Limited is selling its held shares via auction.

According to the auction manager, a total of 473 applicants placed bids for ordinary shares. The cut-off price for the same stood at Rs. 465. The maximum bid for ordinary share stood at Rs. 600. Similarly, a total of 4 applicants placed bids for promoter shares and the cut-off price for the same stood at Rs. 151 and the maximum bid for promoter share stood at Rs. 311.