Cutoff price for 2.34 lakh units auctioned ordinary shares of Deva Bikas Bank stood Rs 233; promoter cutoff at Rs 101

Deva Bikas Bank Limited (DBBL) had auctioned 2,34,318.01 units ordinary shares and 3,83,297.38 units promoter shares from Baisakh 28 to Jestha 4, 2074 after the right shares issued on Magh 9, 2073 were not fully unsubscribed by its shareholders. The bids were opened last Friday. As per an official of NIBL Capital Markets Limited, the issue manager for the auction, the cutoff price for ordinary shares was Rs 233 per share. The highest bid price received was Rs 316. Total 799 applicants submitted their bids for 2,34,318.01 units ordinary shares. Likewise, for the promoter shares, the cutoff price is Rs 101 per promoter share. Only 3 applicants had bid for 3,83,297.38 units promoter shares and all of them got shares. As per the official, all the auctioned promoter shares were not fully subscribed in this auction. Non-allottees will have their money refunded 7 days after the bids are approved by the Board of Directors of the bank. DBBL has earned net profit of Rs 19.90 crore in the third quarter of the fiscal year 2073/74. Its last traded price stands at Rs 275 as of May 18, 2017.