Kumari Bank Auction : Shares allotted , Refund from tomorrow

As per the notice published by the company, the Auction shares of Kumari Bank have been allotted on 32nd Ashad, 2075. The non-allotees are scheduled to be refunded from tomorrow i.e. 3rd Shrawan, 2075. Applicants not mentioning their bank account number will be refunded by account payee cheque. 

The company had auctioned 5,01,921.69 units promoter shares and 6,39,452.81 units ordinary shares. The company had received 382% appications for promoter shares whereas ordinary shares was over-subscribed by 1458%. As per the information received, Rs 175 stood at cut-off for ordinary shares whereas Rs 107 was for promoter shares.

NIBL ACE Capital is managing the issue. 

The paid-up capital will reach 7.15 arba after capitalization of 20%  right shares. Thus, the bank can possibly issue bonus shares of 12% to meet the capital requirement set by the central bank.