62 applicants grab auctioned promoter shares of Civil Bank; all valid bidders allotted

Civil Bank Limited (CBL) had re-auctioned 31.21 lakh units promoter right shares from Chaitra 14 to Chaitra 21, 2074. The bids were opened today at 11:00 AM at Laxmi Capital Market, New Baneshwor. As per an official of Laxmi Capital, there was demand for only 1,29,740 units promoter shares from 62 applicants. All valid applicants were allotted the shares. Highest price of Rs 140 per share, and lowest price of Rs 100 per share were received as bids. CBL will now be again auctioning remaining unsubscribed shares. It had previously auctioned a total of 32.44 lakh units promoter shares, out of which only 1,23,000 units were allotted to 9 applicants in the previous auction. The bank’s current paid up capital is Rs 5.18 arba. After the adjustment of 40% right shares and subscription of all unsubscribed right shares, its paid-up capital will reach Rs 7.25 arba. As per NRB's directive for all commercial banks to increase their paid-up capital to Rs 8 arba, Civil Bank should further increase its capital by Rs 75 crore (around 10.40%). It had earned Rs 21.97 crore in the second quarter of the FY 2074/75. Its last traded price stood at Rs 152 as of today.