Green Development Bank Auction : Tentative Cutoff for ordinary shares stood at Rs 102

The bid opening program for Green development bank has been successfully conducted in Laxmi Capital premises today. 

As per the official of Laxmi Capital, the tentative cutoff for ordinary shares stood at Rs 102. A total of 457 applicants had applied for the auction where an application with a bid price as high as Rs 155 was also received. No details for promoter shares was received. 

Green Development Bank was last traded for Rs 148 in the stock exchange. 

The company had auctioned 3,37,500 unit promoters shares and 3,13,713 unit ordinary shares. However, only existing promoters could apply for promoter type shares. 

The company had floated massive 400% right shares and alloted it on 22nd Chaitra, 2074. The unsold right shares at that time were then auctioned. 

Green Development Bank has a paid up capital of Rs 10 crores, which will hike to Rs 50 crores after the capitalization of 400% right issue. The development bank will then meet the directive for paid-up capital. Green Development Bank had an EPS of Rs 0.83 as of 3rd quarter 2074/75.