Cut off price for 6,137 unit ordinary and 10,044 unit promoter shares of Mount Makalu Development Bank stands at Rs 220 and Rs 101 respectively; 27 bidders all together got hold of the shares

An official at NIBL Capital Markets Limited, which managed the auction informed that, the cutoff price for ordinary auctioned shares stood at Rs 220. The highest bid amount received for the auction shares was Rs 640. Total 56 applicants had submitted their bids for 6,137 units of ordinary shares out of which 22 investors were able to get hold of the shares. On the other hand, the cutoff price for 10,044 unit promoter auctioned shares stood at Rs 101. The highest bid amount for the auctioned shares received was Rs 101. Total 5 applicants had submitted their bids for 10,044 units of promoter shares out of which all of them were able to get hold of the shares. Mount Makalu Development Bank Limited (MMDBL) had auctioned its 6,137 unit ordinary and 10,044 unit promoter shares from Magh 21, 2074 till Magh 28, 2074. The bid was opened on Falgun 6, 2074 at the premise of NIBL Capital Markets Limited. MMDBL’s 6th AGM held on Falgun 25, 2073 had endorsed 50% right shares to their shareholders. MMDBL has a paid up capital of Rs 6.91 crore at present. After issuance of 50% right share, its paid up capital will reach to Rs 10.37 crore. As a 1 district-level development bank (based in Tehrathum), it will need to increase its paid up capital to Rs 50 crore by the end of FY 2073/74. The development bank had issued 50% right shares to its shareholders from Mangsir 7 to Poush 12, 2074. Around 4.68% of the total issue was unsubscribed. Its last traded price (LTP) stood at Rs 693 as on Falgun 9, 2074 (today).