Shangrila Development Bank allots right issue, to auction unsold Shares

Mar 19, 2018 Merolagani

Shangrila Development Bank (SADBL) has allotted 80 percent right shares. The bank issued 10,867,798 units of right shares of the current paid-up capital. Out of the issued shares, only 9,965,801 units of right shares have been claimed.

The unsold right shares will be auctioned by the bank. According to the bank, the auction date will be disclosed later.

The bank issued 80 percent right shares from January 1 to February 4. The issue was applied by 11,732 applicants.

A total of 901,997 units of right shares have been unsold during the issuance. The unsold right shares will be auctioned by the bank.

Presently, the bank has a paid-up capital of Rs 1.35 billion which will reach Rs 2.44 billion after the adjustment of right shares.

 

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