Kamana Sewa Bikas Bank Auction : Non-allottees refunding from today !!!

NMB Capital has published a notice regarding the refund of Kamana Sewa Bikas Bank auction. 

As per the notice, the company is refunding the non-allottees of auction from today. The refund will be made directly in the bank account mentioned by the participants in the application forms.

As per the official of NMB Capital, the Pre-liminary cutoff for ordinary shares stood at Rs 153. Whereas the promoter shares remained undersubscribed.

Kamana Sewa Bikas bank had auctioned the unsold right shares from 24th of Baisakh to 31st Baisakh, 2075. This included 2,12,146.84 unit ordinary shares and 6,37,816.93 units promoter shares. 

Kamana Sewa Bikas Bank had floated 15% right shares from Magh 15th to Falgun 20th. The shareholders having the shares at the time of bookclose were eligible for the right. 

The company's shareholder bookclosed on Magh 3rd. 

Kamana sewa is the bank formed after the merger of Kamana bikas bank and Sewa Bikas Bank. The Bank currently has a paid up capital of Rs 2.05 arba. The capital will hike to Rs 2.36 ara after the capitalization of right issue. The bank further needs Rs 14 crores to meet the capital requirement for national level development banks.