Bid opening program for Civil Bank auction concludes: Preliminary Cut-off for ordinary shares stood at Rs 133

Auction for unsold shares of Civil Bank has successfully concluded .

As per an official of Laxmi Capital , “the preliminary cut off price for 9.94 lakh units ordinary stood at Rs 133 whereas the promoter shares will be reauctioned ". Out of 32.44 lakh units available for promoters , only 1.32 lakh were sold. A total of 4,440 applications were received solely for ordinary shares. 

The massive auction of Civil Bank started from 23rd Falgun and ended on 1st chatra 2074. Any general public could bid for ordinary shares. However, Only existing promoters were eligible to bid for promoter shares. .

Laxmi Capital was managing the issue. 

CBL’s currently has a paid up Capital of Rs 5.18 arba. The capitalization of 40% right share will increase the capital to 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 last traded price stood at Rs 148.