Auctioned shares of Global IME Laghubitta fully subscribed; cut off price stood at Rs.641

Global IME Laghubitta Bittiya Sanstha Limited (GILB) was auctioning the unsold right shares from its 100% right issue. The bids for the auction were accepted from Ashwin 28, 2076 till Kartik 05, 2076.

The microfinance company had issued 1,104,575 unit shares for its shareholders at par value of Rs.100. Out of which 56,561 units ordinary shares remained unsubscribed and were put up for auction.

Global IME Capital Limited has been appointed as the issue manager.

As per the issue manager, the cut off for the auctioned shares stood at Rs.641. A total of 214 applications were received for the auction. The maximum bid amount stood at Rs.685 per share. All the auctioned shares have been subscribed.

The existing paid-up capital of company is Rs.11.04 crore and after the 100% right shares and auction issue, the paid-up capital will rise to Rs.22.08 crore. The company has recently announced 17.5% bonus share from the profit of last fiscal year, after the adjustment of the right share.