2 investor’s allotted 6,360 units auctioned ordinary shares of Excel Dev. Bank; Cut-off price stood Rs 601.50

Excel Development Bank Limited has auctioned its 6,360 units ordinary right shares and to general public from Baisakh 7 to Baisakh 13, 2073.  The bid was opened today at 3:00 PM. As per the press release published by the company today, the development bank has set the cutoff price for the 6,360 ordinary shares at Rs, 601.50  The highest bid amount for the auction shares received was Rs.605. Only 2 applicants were allotted shares out of the 112 applicants who submitted their bids for 6,360 units of ordinary shares. Ace Capital Limited has been assingned as the issue manager for this auction. Excel development bank had earned net profit of Rs.4.05 crore  in its second quarter of the current fiscal year 2072/73. The last trading price of the shares stood at Rs 597 as on April 26, 2016.