2 investors were allotted 7,046 units auctioned shares of Kanchan Dev. Bank, cut off price stoodRs 402.50

Kanchan Development Bank Limited (KADBL)had auctioned its 7,046 units ordinary right shares to the general public from Magh 29, 2072 toFalgun 6, 2072. The bid was opened on Falgun 9, 2072 (Sunday). An official of Global IME capital Limited, which managed the auction forKanchan development Bank, informed that the cutoff price for 7,049units ordinary shares stood at Rs 402.50. The highest bid amount for the auction shares received was Rs 408.50 and lowest bid was Rs 141. Only 2 applicants were allotted shares out of the 48 applicants who submitted their bids for 7,046 units of ordinary shares. KADBL had earned net profit of Rs 2.19crore in its second quarter of the current fiscal year 2072/73. The last trading price of the shares stood at Rs 412 per share as on February 21, 2016.