Preliminary cut off price for 35,841 unit auctioned shares of Everest Bank stood at Rs 1,151

Everest Bank Limited (EBL) had also re-auctioned 35,841 units ordinary shares. Its preliminary cutoff price stood at Rs 1,151. The highest bid amount for the auction shares received was Rs 1,204. There were total 3,174 applicants. The commercial bank had re-auctioned 35,841 units ordinary shares after the right shares issued from Asadh 18,2074 to Shrawan 22, 2074 were not fully subscribed by its shareholders. The bank had floated a total of 15,088,087 units right shares in the ratio 3:1 and around 1.6% right shares (2,53,797units) were left unclaimed. In previous auction, only 2,17,956 unit shares are subscribed. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 6.03 arba from existing Rs 4.52 arba. As per NRB’s requirement for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, EBL will need to issue a further capital hike of around 32.50%. EBL has earned Rs 1.98 arba net profit in the fourth quarter in the fiscal year 2073/74. Its last traded price stood at Rs 1,210 as of last trading day.