Bishwa Bikas Bank share auction: Rs 235 cut-off for ordinary, Rs 105 for promoter

ShareSansar, May 15:

Bishwa Bikas Bank Limited has concluded the auction of 23,950 units of promoter and 39,985 units of ordinary right shares.

There were 360 applicants for the auction of ordinary shares,  and the highest bid amount was Rs 270 while the cut-off price was Rs 235, according to sources at the issue manager, Growmore Merchant Banker Limited.

It may be noted that the highest bid amount is higher than the last traded price of the bank scrip, which was traded for Rs 260 per unit on the last trading day.

Source s further informed that there were only five bidders for the promoter shares, and all of them were allotted the shares in between Rs 105 to Rs 100.

The development bank had invited bids for the unclaimed promoter and ordinary shares on auction from April 29 to May 7, but the auction could not be concluded immediately owing to some technical problem, according to the issue manager.