Cutoff of auctioned promoter shares of Lumbini Bikas Bank stands at Rs 100; 3.62 lakh units still unsubscribed

Lumbini Bikas Bank Limited (LBBL) had opened an auction for the unsold 3,64,836.44 unit right shares of promoter group.

Vibor Capital has been appointed as the issue manager for the right share auction.

According to the officials at Vibor Capital, a total of 9 applications were received for the auction. However 4 of them were invalid. So only the remaining 5 applications were allotted for 2400 units. The minimum bid amount was stated at Rs 100 and the highest bid is received at Rs 101.

So Lumbini Bikas Bank will have to open auction for the remaining 3,62,436.44 unit promoter shares.

Its current paid up capital stands at Rs 2.01 arba. After adjustment of 10% right shares, it will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%).

The LTP of LBBL as of Ashad 14, 2075 is Rs. 143.