Cutoff price for auctioned promoter and ordinary shares of Muktinath Bikas Bank stand at Rs 150.07 and Rs 291 respectively

Muktinath Bikas Bank (MNBBL) had issued 20% right shares to its shareholders. The bank, then, had auctioned the unsold right shares from Mangsir 08, 2076 till Mangsir 15, 2076. The company had auctioned 102,516.32 units of Promoter shares and 300,703.93 units of Ordinary shares.

The bank had opened bids for the same on Mangsir 18, 2076 at Office of Muktinath Capital located at Hattisar Marg, Kamladi. Muktinath Capital is the issue manager of the auction.

As per the issue manager, the cutoff for promoter shares stood at Rs 150.07. A total of 25 applicants placed bids for the auction. The maximum bid for promoter shares stood at Rs 160 and 6 applicants got allotted.

Similarly, a total of 1,388 applicants placed bids for ordinary shares. The cutoff price for the same stood at R 291 and total 247 applicants got allotted. The maximum bid for ordinary share stood at Rs 329. All the auctioned units have been subscribed.

The amount will be refunded within a week for non-allottees.