MBBL share auction: Rs 192.11 cut-off rate; highest bid: Rs 210.08 for ordinary

ShareSansar, July 17:

Bid opening of Mahakali Bikas Bank Limited’s unclaimed 18,802 units ordinary share and 1,75,132 units promoter share was held on July 16.

In total 94 applications were received for the ordinary shares, the cut-off price was Rs 192.11 and the highest bid amount was Rs 210.08 according to an official of Ace Capital.

However, he also mentioned that the promoter shares were not fully subscribed as only 19 applications were received. Out of total 1,75,132 units promoter share only 26,840 units were subscribed and the highest bid was Rs 100.

The minimum bid price for both types of shares was Rs 100, and bidder had to apply for at least 100 units.

The development bank based in Kanchanpur had invited bids for the auction on July 8, and the bids were closed on July 14.