Cut off price for 2.06 lakh unit auctioned ordinary share of Om Development Bank stood at Rs 221.5, promoter cut off at Rs 141.5

Om Development Bank Limited (ODBL) has successfully concluded the auction. As per an official of NIBL Capital Markets Limited, the issue manager for the auction, the cut off price for the ordinary shares stood at Rs 221.5 whereas for promoter shares, cut off price was Rs 141.5. ODBL had open application for the auction from Poush 2 to Poush 9, 2074. The development bank sold 2,06,587 units ordinary shares and 46,082 units promoter shares after the right shares issued till Kartik 26, 2074 in the ratio of 10:3 (30%) were not fully subscribed by its shareholders Out of total issue, 2,52,669 unit shares remain unsold (around 5.10%). To meet the capital requirement of Rs 2.50 arba, it has proposed 17.69% bonus shares from the net profit of FY 2073/74. After right and bonus shares adjustment, it will reach to Rs 2.51 arba from existing 1.64 arba. ODBL had earned net profit of Rs 3.74 crore till the end of first quarter of FY 2074/75. Its LTP stood at Rs 245 as of last trading day.