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Last day to bid 8.87 lakh units unclaimed auction shares of Sagarmatha Finance; auction allottees also eligible for 18.3% bonus share

- ShareSansar, March 15, 2017  on Featured , Latest , Share Auction , Stock Market
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Investors interested in acquiring the shares of Sagarmatha Finance Limited (SAFL) have one more day to file their bids for the auctioned promoter and ordinary right shares.

The deadline for submitting bids for the auctioned unsold right shares is ending today (Chaitra 2, 2073) and the bids will be opened to conclude the auction on Chaitra 4 , 2073.

The finance company is selling 1,67,144.17 units ordinary shares and 7,20,318.83 units promoter shares after the right shares issued on Poush 11, 2073 were not fully subscribed by its shareholders. The finance company had offered right shares in the ratio 10:8.

The bid will open to conclude the auction on Chaitra 4, 2073 at 1:00 PM. The auction will open at the head office of Sagarmatha Finance Limited, Manbhawan, Lalitpur.

Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units for the ordinary shares and a minimum of 1,000 units for the promoter shares. The number of shares applied must be a multiple of 10.

SAFL has urged interested bidders to submit their bids by 3:00 PM till Chaitra 2, 2073 at Sagarmatha Finance Limited, Manbhawan, Lalitpur. As per an official of Sagarmatha Finance, the auction allottees are also eligible for the proposed 18.30% bonus shares for the FY 2072/73.

The investors applying for the auction can deposit the bid amount in the account number 1-08-06-16 at the head office of Sagarmatha Finance in Manbhawan, Lalitpur. Bidders can also apply through a “Good for Payment” cheque made in the name of Sagarmatha Finance Limited.

Sagarmatha Finance Limited has earned net profit of Rs 5.61 crore in the second quarter of the fiscal year 2073/74. Its paid up capital remains at Rs 36.92 crore. After the capitalization of 80% right shares, its paid up capital will reach Rs 66.45 crore. It is under acquisition process by Century Commercial Bank Limited.

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