Garima Bikas Bank cut off price for 14,994 units ordinary shares stood at Rs 368.10

Garima Bikas Bank Limited (GBBL) had auctioned its 14,994 units ordinary shares to the general public from Ashwin17 to Ashwin24, 2072. The bid was opened yesterday (Ashwin 27). Rashmi Rijal, Deputy Manager of Ace Capital Limited said, the development bank has set the cutoff price for the 14,994 units ordinary shares at Rs 368.10. The highest bid amount for the auction shares received was Rs 371. Only 4 applicants were allotted shares out of the 108 applicants who submitted their bids for 14,994 units of ordinary shares. The development bank was selling 14,994 units of ordinary right share after the rights shares issued on Chaitra 09, 2071 were not fully subscribed by the investors. GBBL had earned net profit of Rs 16.31 crore in its fourth quarter of the last fiscal year 2071/72. The last trading price of the shares stood at Rs 364 per share on October 14, 2015.