Cut off price for auctioned promoter shares of Saptakoshi Development Bank at Rs 100

Saptakoshi Development Bank Limited (SKDBL) had auctioned 8,16,677 unit unsold promoter shares from Kartik 22, 2074 till Kartik 29, 2074. The bids were opened on Mangsir 3, 2074 at NMB Capital Limited. An official of NMB Capital, the issue manager of the auction, informed that the cutoff price for its 8,16,677 units promoter shares has been set at Rs 100. Highest bid amount of Rs 160 was received. Total 126 applicants submitted their bids for promoter shares and only 114 of them grabbed shares. “The data are preliminary, final output may vary,” added the official SKDBL has earned Rs 28.52 lakh profit in the first quarter of the current fiscal year 2074/75 as per unaudited report. After the issuance of 130% right, its paid-up capital reached Rs 48.53 crore. As per NRB’s directive for all 1-3 district level development banks to maintain a minimum paid up capital of Rs 50 crore, SKDBL will need to further increase its paid up capital by only 3%.