Cut off price for 12,587 units auctioned shares of Kabeli Bikas Bank stood at Rs 300; 23 applicants grabbed the shares

Kabeli Bikas Bank Limited (KEBL) has successfully concluded the auction. As per an official of Global IME Capital Limited, issue manager for the auction of KEBL, the cut off price stood at Rs 300. There were altogether 102 applicants, out of which 22 grabbed the shares they demanded whereas 1 applicant was allotted with partial shares. The maximum bid received stood at Rs 365. The auction was open from Mangsir 19 to Mangsir 29, 2074. It has sold 12,587 units ordinary shares after the right shares issued on Bhadra 18 to Kartik 15, 2074 were not fully subscribed by its shareholders. It had offered right shares in the ratio of 2:1. Around 3.58% shares were unsubscribed. KEBL had earned net profit of Rs 2.61 crore in the fourth quarter of the FY 2073/74. Kabeli Bikas Bank had signed an agreement to acquire Mount Makalu Development Bank Limited (MMDBL) in the share swap ratio of 100:88. MMDBL has been issuing 50% right shares from Mangsir 7, 2074. Its last traded price (LTP) stood at Rs 339 as of last trading day.