Cutoff of auctioned promoter shares of Karnali Development bank stood at Rs 100; cutoff of ordinary shares stood at Rs 101 with maximum bid received at Rs 116

Karnali development bank (KRBL) had opened an auction of 5,23,570 unit right shares of promoters group and 1, 84,588 unit right shares of ordinary shareholders group.

Prabhu Capital is the issue manager for the auction.

Promoter Shares

According to the officials at Prabhu capital a total of 28 applications were received applying for 5,25,100 units. The cut off of the auction stood at Rs 100.

Ordinary Shares

Similarly, a total of 80 applications were received applying for 2,01,490 units of ordinary shares. The cut off of auctioned shares stood at Rs 101 where the maximum bid was received at Rs 116.

The bank had issued 225% right shares for its shareholders. Its paid-up capital stands at Rs 15.10 crore and after the adjustment of 225% right share, its paid-up capital will reach Rs 50.27 crore (which includes 8% bonus from the profit of FY 2072/73).

Its LTP stand at Rs 106 as of Ashadh 29, 2075.