Bhargav Bikash Bank share auction: Rs 127.12 cut-off price; Maximum bid Rs 151.50

ShareSansar, June 10:

NMB Capital Limited has auctioned 1,95,500 units of underwritten ordinary shares of Bhargav Bikash Bank Limited.

There were 28 applicants for the auction of ordinary shares among which 18 were eligible, and the highest bid amount was Rs 151.50 while the cut-off price was Rs 127.12, according to sources at the issue manager, NMB Capital.

The last traded price of Bhargav’s ordinary share was Rs 123.

The merchant banker had opened the bid on June 2 and was closed on June 9.  The minimum price to be quoted for the auction was Rs 125 per unit.

NMB Capital had further stated that the applicants could bid for a minimum of 1,000 units and maximum of 150,000 units.

The bidders had to deposit 10 percent of the bid amount in advance in the account of NMB Bank Limited at Babar Mahal.