14 investors were allotted 12,420.32 units auctioned ordinary shares of Metro Dev. Bank; Cut-off price stood Rs. 211

Metro Development Bank Limited (METRO) had auctioned its 12,420.32 units of ordinary right share and 10,814.08 units promoter right share to general public from Mangsir 8 to Mangsir 14, 2072. The bid was opened yesterday (Mangsir 15). Bijaya Lal Shrestha, CEO of NCM Merchant Banking Limited said, the development bank has set the cutoff price for the 12,420.32 units ordinary shares at Rs. 211 The highest bid amount for the auction shares received was Rs. 305. Only 14 applicants were allotted shares out of the 32 applicants who submitted their bids for 12,420.32 units of ordinary shares. Similarly, for 10,814.08 units promoter shares the cut off price stood at Rs. 129. The highest bid amount for the auction shares received was Rs.161. Only 7 applicants have submitted their bids for 10,814.08 units promoter shares and 3 of them got shares. Metro development bank had earned net profit of Rs. 1.09 crore in its first quarter of the current fiscal year 2072/73. The last trading price of METRO stood at Rs. 321 as on November 09, 2015.