Bids Opened for Auctioned Shares of NABBC; What are the Cut-Off Rates?

The bids received in the auction of shares of Narayani Development Bank Limited (NABBC) have been opened today.

The company auctioned its promoter and ordinary rights shares from the 3rd of Chaitra. The auction closed on 10th Chaitra at the end of banking hours. The company had opened its rights offering from Magh 13 to Falgun 03. 15,974 promoter rights shares and 6,583 ordinary rights shares (including 116 unclaimed shares in the previous 2: 1 rights offering) were unclaimed by eligible investors. The company auctioned the same unclaimed rights shares.

According to the auction manager Global IME Capital, the tentative cut-off rate for the ordinary shares is Rs. 460. Similarly, the tentative cut-off rate for the promoter shares is Rs. 119. Thus, those who bid at or above the cut-off rates will be allotted. Note that this is the tentative rate and the final data might change after reconciliation.