19 bidders allotted 13,182 units auctioned ordinary shares of Kanchan Dev. Bank; Cutoff price at Rs 241.25

Kanchan Development Bank Limited (KADBL) had auctioned its 13,182 units ordinary right shares to the general public from Falgun 26, 2073 till Chaitra 3, 2073. The bids were opened yesterday (Chaitra 6, 2073) at 3:30 PM. An official of Global IME Capital Limited, which managed the auction for Kanchan Development Bank, informed that the cut off price for 13,182 units ordinary shares stood at Rs 241.25. The highest bid amount for the auction shares received was Rs 285. 153 applicants had submitted their bids for 13,182 units ordinary shares and only 19 of them got shares. Kanchan Development Bank had earned net profit of Rs. 2.97 crore in the second quarter of the current fiscal year 2073/74. Its last traded price stood at Rs 270 as on March 19, 2017.