Cut off price for 1,351 unit auctioned ordinary shares of Kisan Microfinance stood at Rs 2,250; Only 2 bidders allotted with the shares

Kisan Microfinance Bittiya Sanstha Limited (KMFL) has open bid for 1,351 unit unsold right share. As per the issue manager for the auction, Civil Capital Market Limited, the cut off price stood at Rs 2,250. The maximum bid stood at Rs 2,351. There were 47 applicants but only 2 applicants were allotted with the shares. The microfinance company has sold 1,351 units ordinary share after the right shares issued from Ashwin 4, 2074 to Kartik 7, 2074 were not fully subscribed by the investors. The microfinance company had offered right shares at the ratio of 100:24.22. Around 1.73% of the total issue were unsubscribed. The auction was open from Mangsir 13 to Mangsir 19, 2074. Its paid up capital after adjustment of 24.22% right shares will reach to Rs 4 crore from existing 3.22 crore. It had announced 25% bonus shares to its shareholders from the net profit it had earned in the FY 2073/74. After which paid up will reach to Rs 4.80 crore. It had earned Rs 10.21 lakh in the first quarter of the FY 2074/75.