Auctioned Promoter Shares of Nerude Laghubitta remain unsubscribed again; only 2,000 units subscribed with cutoff at Rs.221.10

Nerude Laghubitta Bittiya Sanstha (NLBBL) was selling 87,300 units of promoter shares via auction from Bhadra 20, 2076 to Bhadra 29, 2076. The bid opening date for the same was on Ashwin 9, 2076.

The company has appointed Civil Capital Market Limited as the issue manager for the auction. The existing promoters of the bank and other individuals, company and institutions eligible to be promoter could bid for the auction.

As per the issue manager, the cutoff rate for the auctions shares stood at Rs.221.10 while the maximum bid amount was Rs.266 per share. A total of 6 applicants had placed bids for the auction. Out of the total units offered, only 2,000 units were subscribed.

Since the only 2,000 units were subscribed, the remaining 85,300 units will be re-auctioned soon.