Jhimruk Bikas Bank auction concludes; cut off price for 4,089 units auctioned ordinary shares stood at Rs. 327

Jhimruk Bikas Bank Limited (JHBL) had auctioned its 4,089 units ordinary and 4,513 units promoter right shares to the general public from the general public from Ashad 12, 2073.The bid was opened yesterday (Ashad 20, 2073). An official of Growmore Merchant Banker, which managed the auction for Jhimruk Bikas   Bank, informed that the cut off price for 4,089 units ordinary shares stood at Rs 327. The highest bid amount for the ordinary auction shares received was Rs 455. Out of 48 total applicants 15 applicants were able to get the auctioned shares. Similarly, for 4,513 units promoter unclaimed right share, the cut off price stood Rs 201.  Only one applicant submitted the bid for the promoter share. The last trading price of the shares stood at Rs 384 as on January 14, 2016. The trading of Jhimruk Bikas Bank has been halted for going into merger process. Jhimruk Bikas Bank has entered into a merger process with Hamro Bikas Bank and Jyoti Bakas Bank.