Cutoff price for 3.57 lakh units auctioned shares of Triveni Bikas Bank stood at Rs 202; promoter cutoff stood at Rs 100

Triveni Bikas Bank Limited had auctioned unclaimed right shares to the public from Magh 13 to Magh 20, 2073. The cutoff price for the auctioned ordinary shares stood at Rs 202 and promoters stood at Rs 100. The development bank had auctioned 2,29,143.45 units ordinary shares and 1,28,916.97 promoter shares after the rights shares issued on Kartik 23, 2073 were not fully subscribed by the shareholders. The bank had offered right shares in the ratio of 2:1. As per an official of Ace Capital Limited, manager for the auction, the maximum bid for ordinary shares was Rs 400. 184 out of 317 applicants were allotted the ordinary shares. On the promoter side, highest bid of Rs 500 was received. All 24 applicants were allotted the promoter shares. The lowest bid received for the promoter shares was Rs 100. As per the official, promoter shares have not been fully subscribed. Triveni Bikas Bank Limited has earned Rs 11.15 crore in the second quarter of the fiscal year 2073/74. Its Last Trading Price (LTP) stood at Rs 346 as on October 27, 2016. Triveni Bikas Bank Limited is in process of merger with Janata Bank Nepal Limited. The swap ratio for the merger is fixed at 1:1.