Gandaki Bikas Bank Auction : Tentative Cutoff for ordinary shares stood at Rs 200

The bid opening program was successfully conducted today in Prabhu Capital, Kamaladi. 

As per the official, the preliminary cutoff for ordinary shares stood at Rs 200. The same for promoter was Rs 127. 

Gandaki Bikas Bank had auctioned 2,22,184.60 unit ordinary and 1,30,716.90 unit promoter shares from 1st Chaitra, 2074. (15th March, 2018). The auction ended on 8th Chaita,2074 (22nd March).

Gandaki Bikas Bank had floated 46.09 lakh unit right shares at a ratio 4:1 from 7th Poush. The right issue closed on 11th Magh, 2074, where approx. 3.53 lakh (7.65%) shares were unsubscribed. Those shares were auctioned among general public. However, only existing promoters were eligible to bid for promoter shares.   

Prabhu Capital is managing the auction.

Gandaki Bikas Bank is a national level development formed as a merger of Gandaki bikas bank and Fewa bikas bank.