Tentative cutoff stands at Rs.585 for auctioned 61,236 units of unsold ordinary right share of Nadep Laghubitta; 373 applicants place bids for more than 3 Lakh units

NADEP Laghubitta Bittiya Sanstha Limited (NADEP) was auctioning its unsold 61,236 units right shares (ordinary) from Falgun 19, 2075 to Falgun 28, 2075.

Nabil Investment Banking Limited has been appointed as the issue manager for the auction of the shares. As per the issue manager, the tentative cut off price stands at Rs.585. A total of 373 applications were received for the auctioned shares and applicants had applied for 300,560 units of share. The maximum bid received was of Rs.680 per share.

The microfinance company had floated 16 lakh unit shares as right shares for its shareholders. Out of the issued units, the company has allotted 1,538,764 units to the valid applicants.

After the adjustment of 100% right shares and recently announced 30% bonus share, the paid-up capital of the company will reach Rs.36.80 Crore.

The LTP of the microfinance company as of 19^th March, 2019 stands at Rs.675 per share.