Innovative Dev Bank cut off price for 51,973 units auctioned ordinary shares stood at Rs. 415; today closed at Rs 410

Innovative Development Bank Limited (INDB) had auctioned its 51,973 units ordinary and 47,753 units promoter right shares to the general public from Chaitra 12 to Chaitra 19, 2072.  The bid was opened today (Chaitra 21,2072). An official of NMB Capital Limited, which managed the auction for Innovative Development Bank, informed that the preliminary cut off price for51,973 units ordinary shares stood at Rs 415. The highest bid amount for the ordinary auction shares received was Rs 432. Out of 130 total applicants approximately 12applicants were able to get the shares. Similarly, for 47,753 units promoter unclaimed right share, the cut off price stood Rs 105.  The highest bid amount for the auction shares received was Rs. 117. Total20 applicants submitted their bids for 47,753 units of promoter shares. The last trading price of the shares stood at Rs 432 as on March 31, 2016. Today it fell down by Rs 22 to close at Rs 410 per unit.