8 investor’s allotted 21,903.32 units auctioned ordinary shares of Tinau Dev. Bank; Cut-off price stood Rs 496.20

Tinau Development Bank Limited (TNBL) had auctioned its 21,903.32 units ordinary right shares to general public from Jestha 16, 2073 till Jestha 30, 2073. The bid was opened yesterday (Jestha 32, 2073). As per the official of Siddhartha Capital Limited, the development bank has set the cutoff price for the 21,903.32 ordinary shares at Rs. 496.20.  The highest bid amount for the auction shares received was Rs.505. Only 8 applicants were allotted shares out of the 111 applicants who submitted their bids for 21,903.32 units of ordinary shares. Siddhartha Capital Limited has been assigned as the issue manager for this auction. Tinau development bank had earned net profit of Rs. 6.20 crore in its third quarter of the current fiscal year 2072/73. The last trading price (LTP) of the shares stood at Rs. 511 as on June 13, 2016.