Tentative cutoff for Naya Nepal Laghubitta’s ordinary shares stands at Rs 386.90; Promoter shares fails to get fully subscribed

NMB Capital has concluded the bid opening of auctioned right shares of Naya Nepal Laghubitta Bittiya Sanstha Limited (NNLB).

The microfinance company had been selling 86,093 units of promoter shares and 17,260 units of ordinary shares via auction.

For the ordinary shares, 157 applications has been received which included a maximum bid price of Rs 485. The tentative cutoff price for the ordinary share remains at Rs 386.9.

For the promoter shares, 14 applicants had placed their bids which included 2 non-promoters who will not be allotted. Maximum bid price for the promoter shares stood at Rs 105 and minimum bid received was Rs 100.

NMB Capital was appointed as the issue manager for the auction.

After the adjustment of the right shares and auction, the paid up capital of the microfinance will reach Rs 8.40 crore.

The promoter shares have not been fully subscribed and will be sold via re-auction soon.