Cut off price for 1.31 lakh units ordinary shares of Muktinath Bikas Bank stood at Rs 551; LTP at Rs 560

Muktinath Bikas Bank Limited (MNBBL) had auctioned 1,31,155.53 unit ordinary and 27,765.51 unit promoter shares from Kartik 23, 2074 till Kartik 30, 2074. The bid was opened on Mangsir 6, 2074 at the premises of NIBL Capital Markets Limited. An official of NIBL Capital Markets Limited, which managed the auction for Muktinath Bikas Bank, informed that, the cutoff price for ordinary auctioned shares stood at Rs 551. The highest bid amount for the auction shares received was Rs 592. Total 2,320 applicants submitted their bids for 1,31,155.53 units of ordinary shares. Similarly, for 27,765.51 units promoter shares, the cut off price was Rs. 271.01. The highest bid amount received was Rs 271.01. Total 6 applicants submitted their bids for promoter shares. All the promoter shares were subscribed by the investors. “The data are preliminary, final output may vary’, added the official. MNBBL has announced 20% bonus shares from the net profit of the FY 2073/74. Its paid up capital after issuance of 40% right share is Rs 2.15 arba. After distribution of 20% bonus share, the paid up capital will reach Rs 2.58 arba. MNBBL has posted net profit of Rs 13.54 crore up to the end of first quarter of FY 2074/75. Its last traded price (LTP) stood at Rs 560 as on November 22, 2017 (yesterday).     .