Cut off price of Civil Bank stood at Rs 133; 283 applicants get their hands on the shares of Civil Bank

Civil Bank Limited (CBL) has successfully concluded the auction. 283 applicants were allotted the auctioned shares, while 40 applicants were proportionally allotted 1,37,346 unit shares. As per an official of Laxmi Capital Market, the cut off price stood at Rs 133. The maximum bid has been received at Rs 400 which is around 166% higher than the current market price. 4,040 applicants had submitted their bid to grab the shares. Among them 47 applicants were deemed as invalid. The total valid amount of application was Rs 96.65 crore for 80.27 lakh unit shares. Among the applicants, Usha Kiran Rana had applied for 115 units at Rs 400 and 1,000 units at Rs 180. Also, Mr. Mohan Man Singh had applied for 1,000 unit shares at Rs 180. CBL had opened auction application from Falgun 23 to Chaitra 1, 2074. The commercial bank had auctioned 32,44,600.25 unit promoter shares and 9,92,819.5 units ordinary shares after the right shares issued from Mangsir 22, 2074 to Magh 12, 2074 were not fully subscribed by its shareholders. The bank had floated a total of 20,740,887 units right shares in the ratio 10:4 (25%) and around 20.43% right shares were left unclaimed. CBL’s current paid up capital remains at Rs 5.18 arba. After issuance of 40% right share, its paid up capital will reach Rs 7.25 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba, CBL should increase a further capital hike of Rs 75 crore (around 10%). It had earned Rs 21.97 crore in the second quarter of the FY 2074/75. Its LTP stood at Rs 148 as of last trading day.