Cutoff price for 14,974 units auctioned shares of NMB Microfinance at Rs 2626.26; 1 bidder swoops in all 15,870 promoter shares at Rs 101

NMB Microfinance Bittiya Sanstha Limited (NMBMF) had auctioned its 14,974 units unclaimed ordinary right shares and 15,870 units unclaimed promoter right shares to general public from Jestha 2, 2074 to Jestha 8, 2074. The bid was opened yesterday at 3:00 PM. As per an official of NMB Capital, which managed the auction for the microfinance company,  the cutoff price for the 14,974 units ordinary shares stood at Rs 2626.26. The highest bid amount for the auction shares received was Rs.2900. Only 33 applicants were allotted shares out of the 147 applicants who submitted their bids for ordinary shares. Similarly, the cutoff price for 15,870 units promoter shares stood at Rs 101. Only 1 applicant applied for the promoter shares and got the whole shares at just Rs 101 per promoter share. The promoter who got all of the 15,870 units shares at Rs 101 has made almost Rs 2.20 crore profit from the auction. Likewise, NMBMF has collected almost Rs 4 crore in premium money from the auction i.e. around 35% of the capital. Its paid up capital remains at Rs 10.96 crore. NMBMF has earned net profit of Rs 3.56 crore in the third quarter of the FY 2073/74. Its last traded price stood at Rs 2,930 as of May 23, 2017.