Cut off price for 1,940 unit auctioned ordinary shares of Mirmire Microfinance stood Rs 3225

Mirmire Microfinance Develoment Bank Limited (MMFDB) had auctioned its 1,940 units ordinary shares right share to the general public from Bhadra 6, 2074 till Bhadra 14, 2074. The bids were opened today at Prabhu Capital, Kamaladi at 11 AM. An official of Prabhu Capital Limited, which managed the auction for MMFDB informed that the cut off price for 1,940 unit ordinary shares stood at Rs 3225. The highest bid amount for the auction shares received was Rs 3501.95. Total 30 applicants have submitted their bids for ordinary shares and 7 of them grabbed shares. MMFDB has earned net profit of Rs 1.54 crore in the fourth quarter of the last FY 2073/74. Also, MMFDB will be convening its SGM on Bhadra 26, 2074 to endorse 100% right shares and to increase authorized capital to Rs 20 crore along with expansion of 10 more working district. Its LTP stood at Rs 3400 as of August 31, 2017.