Cutoff of Kamana Sewa’s auctioned ordinary shares stands at Rs. 153; Promoter shares still undersubscribed

Kamana Sewa Bikas Bank (KSBBL) had opened the auction for 6,37,816.93 unit promoters shares and 2,12,146.84 unit ordinary right shares.

Promoter Share

The auction of promoter share has resulted in undersubscription as only 27 applications were received for 4,90,335 unit shares. The maximum bid price stands at Rs 111 and the minimum at Rs 100. All the applicants will be fully allotted.

Ordinary Share

Similarly the auction of ordinary shares is oversubscribed. A total of 881 applications were received for 15 lakh unit shares. The maximum bid price stands at Rs 180 and minimum at Rs 100. The cutoff based on current data is likely to stand at Rs 153.

NMB Capital is the issue manager for the right share auction.

Its paid up capital will reach to Rs 2.36 arba from existing Rs 2.05 arba after adjustment of 15% right shares. To meet the capital requirement of Rs 2.5 arba, it should hike its capital by Rs 14 crore (around 5.93%). The Last Traded Price (LTP) of the shares stood at Rs 165 as on Baisakh 31, 2075.