Preliminary Cutoff price for 48,120 unit auctioned ordinary shares of Saptakoshi Development Bank stood Rs 162

Saptakoshi Development Bank Limited (SKDBL) had auctioned 48,120 units ordinary shares and 9,25,557 units promoter shares from Ashwin 25, 2074 to Kartik 1, 2074. The bids were opened on Kartik 5, 2074 at NMB Capital. An official of NMB Capital Limited, which managed the auction informed that, the preliminary cutoff price for ordinary auctioned shares stood at Rs 162. The highest bid amount for the auction shares received was Rs 215. Total 801 applicants have submitted their bids for 48,120 units ordinary share. Meanwhile, for 9,25,557 units promoter shares, all the promoter shares were not subscribed . Total 18 applicants had submitted their bids for promoter shares and all of them got shares. Only existing promoters of the development bank could bid for the promoter shares.The highest bid amount received was Rs 105 and lowest bid amount was Rs 103. SKDBL’s current paid up capital remains at Rs 21.10 crore. After the issuance of 130% right, its paid-up capital will reach Rs 48.53 crore. It has an authorized capital of Rs 1 arba. Its promoter-public ratio stands at 60:40. As per NRB’s directive for all 1-3 district level development banks to maintain a minimum paid up capital of Rs 50 crore by the end of FY 2073/74, SKDBL will need to further increase its paid up capital by only 3%. Its LTP stood at Rs 185 as of last trading day.