Karnali Development Bank completes its bid opening; Both promoter and ordinary share not fully subscribed yet; Max bid price for promoter stands at Rs 101 and ordinary at Rs 125

Karnali development bank (KRBL) had opened an auction for 17,62,188 unit right shares for the shareholders. The auction was open, for the unsold 14,61,270 unit right shares of promoter group and 3,00,918 unit right shares of ordinary shareholders group. However the shares haven’t been fully subscribed yet.

Promoter Share

A total of 10 applications were received for 9,37,700 unit shares, where the maximum bid price received stands at Rs 101. All the applicants will be fully allotted.

Ordinary Share

A total of 164 applications were received for 1,16,330 unit shares, where the maximum bid price was Rs 125. All the applicants will be fully allotted.

Prabhu Capital Limited is the issue manager for the auction.

Since both promoter and ordinary shares haven’t been fully subscribed, the auction will be held again for the remaining units.