Cutoff Price for 17,479.60 units promoter and 42,259 units ordinary shares of Miteri Dev. Bank stood at Rs 297 and Rs 445

Miteri Development Bank Limited (MDB) had auctioned ordinary and promoter right shares to the general public from Poush 26 to Magh 4, 2073. The cutoff price for promoter shares stood at Rs 297 and for ordinary shares stood at Rs 445. As per an official of Prabhu Capital Limited, that managed the auction, 291 applicants applied for the ordinary shares. Only 72 got the shares. The highest bid received for ordinary shares was Rs 521. Likewise, out of the 29 applicants that applied for the promoter shares, 10 got the shares. Highest bid of Rs 408.16 was received for the promoter shares. The official also added that non-allottees will have their money refunded by Wednesday (January 25. 2017). The development bank had sold the shares after its 2:1 right shares issued on Kartik 1, 2073 were not fully subscribed by the shareholders. Its last traded price stood at Rs 500 as on January 18, 2017.