18 investor’s allotted 41,837 units auctioned ordinary shares of NB Insurance; Cut-off price stood Rs.1151.51

NB Insurance Company Limited (NBIL) had auctioned 41,837 units’ ordinary right shares and 1600 units’ promoter shares to the general public from Ashwin 28, 2073 to Kartik 5, 2073. The bid was opened yesterday (Kartik 8, 2073) at 3:30 PM. An official of Global IME Capital managing the auction for NB Insurance informed that, the cut off price for 41,837 unit ordinary shares stood at Rs 1151.51. The highest bid amount for the auction shares received was Rs 1860. Only 991 applicants have submitted their bids for 41,837 unit ordinary shares and 18 of them got shares. Similarly, for 1600 unit promoter right share, the company set the cut off price of Rs. 455.  The highest bid amount for the auction shares received was Rs. 521.01. Only 9 applicants have submitted their bids for 1,600 units’ promoter shares and 3 of them got shares. NB Insurance has earned net profit of Rs 4.36 crore in the fourth quarter of the last fiscal year 2072/73 as per unaudited report. The company has been providing services from 14 branch office, 5 contact offices and 11 service counters. Its last traded price stood at Rs 154 as on October 4, 2016.