Cut off price for 3.94 lakh unit auctioned ordinary shares of Laxmi Bank stood Rs 416; Siddhartha Capital & mutual funds take majority of shares

Laxmi Bank Limited (LBL) had auctioned its 3,94,939 units ordinary right share to the general public from Asadh 16, 2074 till Asadh 23, 2074. The bids were opened today at Anmol Catering Service, New Baneshwor from 9:30 AM. The cut off price for its 3,94,939  units ordinary shares stood at Rs 416. The highest bid amount for the auction shares received was Rs 522. Total 2,546 applicants submitted their bids for ordinary shares. Siddhartha Capital applied for 5,000 shares for Rs 421, and its mutual funds Siddhartha Equity Oriented Scheme and Siddhartha Investment Growth Scheme-1 took 20,000 shares each at Rs 421. A non-institutional bidder Sneha Khetan took 1.50 lakh shares at Rs 422. Laxmi Bank has earned net profit of Rs 56.91 crore in the third quarter of the FY 2073/74. As per the bank, all right share allottees (including the auction allottees) are eligible for 18.29% bonus share of the bank for FY 2072/73. Its paid up capital after issuance of 18.29% bonus share will reach Rs 7.47 arba.