Cut off price for 3,70,243.16 unit promoter shares of Nepal Community Development Bank stands at Rs 100; all 145 bidders got hold of the shares

An official at NIBL Ace Capital Markets Limited, which had managed the auction of promoter shares of Nepal Community Development Bank (NCDBP) informed that the cutoff price stood at Rs 100. The highest bid amount received for the auction shares was Rs 150. Total 146 applicants had submitted their bids where 145  of them were able to get hold of the shares. Nepal Community Development Bank Limited (NCDB) had auctioned its 3,70,243.16 unit promoter shares from Magh 15, 2074. The bid was opened on Falgun 6, 2074 at the premise of NIBL Ace Capital Markets Limited. It had auctioned 3,70,243.16 units promoter shares after the right shares issued from Ashwin 26 to Kartik 29, 2074 were not fully subscribed by its shareholders. It had offered right shares in the ratio of 1:1.2. Around 22.59% shares were unsubscribed. NCDB’s current paid up capital remains at Rs 22.02 crore. After adjustment of 120% right share, its paid up capital will reach Rs 48.46 crore. It had earned net profit of Rs 1.92 crore in the second quarter of the FY 2074/75.