Cutoff price for 82,523.80 units promoter shares of Tourism Development Bank stood at Rs 116

Tourism Development Bank Limited (TDBL) had auctioned 82,523.80 units promoter shares from Asadh 29 to Shrawan 5, 2074. The bids was opened today at NIBL Capital, Lazimpat at 11:00 AM. As per the preliminary data received, the cutoff price for promoter auctioned shares stood at Rs 116. The highest bid amount received was Rs 401. Total 125 applicants have submitted bid for 82,523.80 unit auctioned promoter shares and only 76 applicants got shares. The bank will be refunding auction money after 3 days of the allotment. TDBL has earned net profit of Rs 20.09 crore in the third quarter of the FY 2073/74. After the adjustment of right shares, the paid up capital of TDBL will reach Rs 2.02 arba. It has signed an agreement for merger with Mega Bank Nepal Limited (MEGA) due to which their trading is in halt in NEPSE. Mega Bank is also issuing 65% right share to its shareholders. The share swap ratio for merger has been set for 100:95 (95 shares of Mega Bank for 100 shares of Tourism Dev Bank). After the merger, the paid up capital of the merged entity will reach around Rs 9.48 arba.