Cutoff Price for 1,80,378 units auctioned shares of Deprosc Dev Bank at Rs 1200; all applicants allotted

Nepal Bank Limited (NBL) had auctioned 1,80,378 unit ordinary shares of Deprosc Development Bank Limited (DDBL) from Bhadra 15 to Asoj 4, 2074. The bids were opened today at Siddhartha Capital Limited at 7:00AM. An official of Sidhartha Capital, the issue manager of the auction, informed that the cutoff price has been set at Rs 1200. Highest bid of Rs 1250 was received. Out of 127 applicants, all applicants grabbed the shares. Around 51,000 shares are still unsold. DDBL’s last traded price (LTP) stood at Rs 1,295 as of last trading day.