Cut off price for 4.69 lakh unit auctioned ordinary shares of Nepal SBI Bank stood Rs 902.3; Jagadamba steel grabs majority of shares

Nepal SBI Bank Limited (SBI) had auctioned its 4.69.052.60  units ordinary right share to the general public from Shrawan 9, 2074 till Shrawan 16, 2074. The bid was opened today at 3:30 PM. As per the preliminary data, the cutoff price for ordinary auctioned shares stood at Rs 902.3. The highest bid amount received was Rs 1011. Total approx 1634 applicants have submitted their bids for 4.69 lakh units ordinary shares. Jagadamba Steels applied for 1.5 lakh units shares at Rs 917 and Asian Life Insurance Company Limted (ALICL) grabbed 50,000 units. Nepal SBI Bank has earned Rs 1.10 arba in the third quarter of the fiscal year 2073/74. After the adjustment of the rights shares, the bank’s total paid-up capital reached Rs 6.97 arba from the existing Rs 4.97 arba. The bank would earn approx Rs 38 crore premium from this auction.