Cutoff of auctioned ordinary and promoter shares of Deva Bikas Bank stands at Rs 111 and Rs 100 respectively; auction fully subscribed

Deva Bikas Bank Limited (DBBL) had auctioned the unsold 14,79,264.88 unit right shares of promoter group and 5,40,794.71 unit right shares of ordinary shareholders group. The auction has concluded and the results are out.

NIBL Ace Capital is the issue manager of the auction.

According to the officials at NIBL Ace, both the ordinary and promoter shares have been fully subscribed. The cutoff for the ordinary shares stands at Rs 111, with maximum bid received at Rs 136. A total of 605 applications were received.

Similarly, for the promoter group the cutoff stands at Rs 100. A total of 5 applications were received and the entire issue of 14,79,264.88 units promoter shares were fully allotted.

DBBL has earned net profit of Rs 20.23 crore up to the end of third quarter of FY 2074/75. The LTP of Deva Bikas Bank stands at Rs 128 as on Ashad 12, 2075.