Auction of unsold promoter right shares of Lumbini Bikas Bank receives 35 applicants; issue remains undersubscribed with cut off price at Rs.100
Mon, Jan 14, 2019 4:40 PM on Auction, Latest, Stock Market,
Vibor Capital has concluded the auction of 344,946 units of unsold promoter right shares of Lumbini Bikas Bank Limited (LBBL). The development bank had issued 10% right shares.
As per the issue manager, 35 applicants had applied for a total of 148,000 units of shares. The maximum bid price for the same was received at Rs.126 per share. The cut off price stands at Rs.100 as per the preliminary review. The auction of unsold promoter right shares remains undersubscribed.
After adjustment of 10% right shares, its paid-up capital will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%).
Recently, the company had proposed 17.35% bonus share from the profit of 2074/75 FY; which will increase its capital to Rs 2.58 arba.
