Tentative cutoff for auctioned promoter and ordinary shares of Grameen Bikas Laghubitta stood at Rs.162.60 and Rs.322.51 respectively

Grameen Bikas Laghubitta Bittiya Sanstha Limited (GBLBS) was selling 5,82,844 unit shares via auction from Shrawan 8, 2076 to Shrawan 15, 2076. The bid opening date was on Shrawan 20, 2076.

The company was auctioning 3,92,293 unit promoter shares and 1,90,451 ordinary shares. NIBL Ace Capital was appointed as the issue manager for the auction.

As per the issue manager, cutoff for the ordinary shares stood at Rs.322.51 as per the preliminary review. A total of 875 applicants had placed bids for the ordinary shares with maximum bid of Rs.369. Similarly, cutoff for promoter shares stood at Rs.162.60 for the promoter shares which was also the maximum bid amount. A total of 38 applicants had placed bids for promoter share. Both the auctioned shares have been fully subscribed.

The microfinance company had issued 32,75,000 unit shares for its shareholders at par value of Rs 100 from Baisakh 27, 2076 to Jestha 30, 2076. Out of the total units, 26,92,156 units shares got subscribed by 50,287 eligible applicants. However, 5,82,844 units got unsubscribed which is 17.79% of total issue.