RMDC's Auction of FOWAD Promoter Shares; What is the Cut-Off Rate?

The bids have been opened for the promoter shares auction of Forward Microfinance auctioned by RMDC Laghubitta Bittiya Sanstha Limited.

The company auctioned 3,94,634.46 promoter shares of Forward Microfinance Laghubitta Bittiya Sanstha Limited from Ashad 03 to Ashad 17.

Rs. 850 was the minimum bid rate. Individuals, companies, and organizations were all eligible to bid for the auction. According to a representative from the auction manager Sunrise Capital, around 20,000 unit shares were left to be allotted. Rs. 850.50 was the cut-off rate. However, note that the representative did not have data at hand while we contacted. This article will be updated immediately after we receive the factual data.

Update: According to the auction manager's factual data, 3,74,000 units were allotted. Thus, 20,634.26 units are still remaining. Bidders who submitted bids from Rs. 850.50 to Rs. 896 have been allotted with the shares.