Cut off price for auctioned ordinary shares of Alpine Dev. Bank at Rs 187.14; Arun Finance’s cut off price for ordinary shares stood at Rs 141

Alpine Development Bank Limited (ALDBL) had auctioned 71,571 units ordinary shares and  1,87,678 units promoter shares from Kartik 16, 2074 till Kartik 23, 2074. The bids were opened on Kartik 24, 2074 at NMB Capital Limited at 2 PM. An official of NMB Capital, the issue manager of the auction, informed that the cutoff price for its 71,571 units ordinary shares has been set at Rs 187.14. Highest bid amount of Rs 250.60 was received. Total 499 applicants submitted their bids for ordinary shares. Likewise, for 1,87,678 units promoter shares the cut off price was set at Rs 100.The highest bid amount  of Rs 100 was received. Total 6 applicants submitted bids for promoter shares and all of them got shares. “The data are preliminary, final output may vary,” added the official Alpine Development Bank has earned net profit of Rs 6.27 crore in the fourth quarter of the FY 2073/74. It is under acquisition by Century Commercial Bank Limited (CCBL). Similarly, Arun Finance Limited (ARUN) had auctioned 1,25,347 units ordinary shares and 1,80,886 units promoter shares from Kartik 14, 2074 till Kartik 22, 2074. The bids were opened on Kartik 24, 2074 at Global IME Capital Limited at 11 AM. An official of Global IME Capital, the issue manager of the auction, informed that the cutoff price for its 1,25,347 units ordinary shares has been set at Rs 141. Highest bid amount of Rs 150 was received. Out of 425 applicants, only 11 applicants grabbed the shares. For 1,80,886  units promoter shares the cut off price was set at Rs 100.01.The highest bid amount  of Rs 105 was received.  Out of 19 applicants, only 18 applicants grabbed the shares. Arun Finance Limited has earned Rs 1.46 crore profit in the fourth quarter of the fiscal year 2073/74.Its LTP stood at Rs 150 as of last trading day.