Kamana Sewa Bikas Bank Auction : Tentative Cut-off for ordinary shares stood Rs 153

The bid opening program for Kamana Sewa has successfully been conducted today in NMB Capital Premises. 

As per the official of NMB Capital, the Pre-liminary cutoff for ordinary shares stood at Rs 153. Total applications for 15 lakh units were received for ordinary shares. A bid for a price as high as Rs 180 was received for the share of same type. However for promoter type shares, the auction was undersubscribed. There were 6,37,816.93 units promoter shares available for auction but bid for only 4,90,335 units were received from 27 applicants. 

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.