Cutoff Price for 31,497.51 units ordinary shares of Tinau Bikas Bank at Rs 321; out of 250 bidders only 11 of them got shares; LTP Rs 324

Tinau Bikas Bank Limited (TNBL) had auctioned 31,497.51 units ordinary shares from Asadh 20 to Asadh 27, 2074. The bids were opened today at Siddhartha Capital, Naxal at 7:00 AM. The cutoff price for ordinary auctioned shares stood at Rs 321. The highest bid amount received was Rs 337. Total 250 applicants had submitted bid for 31,497.51 units auctioned ordinary shares. Only 11 applicants were allotted with shares. No institutional investors were allotted in this auction, all the shares were grabbed by the individual investors. The bank had floated a total of 11,94,796.09 units right shares in the ratio 10:3.5 and around 2.63% right shares were left unclaimed. Tinau Bikas Bank has earned net profit of Rs 7.80 crore in the 3rd quarter of the fiscal year 2073/74. Its LTP stood at Rs 324 as of yesterday (July 11, 2017).