All bidders grab promoter shares of NGBBL auctioned by Nirdhan Utthan Bank; Cut off price for the promoter shares of RMDC stood at Rs 326

Nirdhan Utthan Bank Limited (NUBL)  had auctioned 1,91,992 units promoter share of Nepal Grameen Bikas Bank Limited (NGBBL) from Kartik 20, 2074 till Mangsir 6, 2074. The bids were opened on Mangsir 7 at NIBL Capital Markets Limited, Lazimpat. An official of NIBL Capital Markets Limited, which managed the auction, informed that  the cut off price for the promoter auctioned shares stood at Rs 300. Maximum bid price received was Rs 331. Total 19 applicants bid for the auctioned promoter shares of NGBBL. All the applicants will grab the shares. All the promoter shares of NGBBL were not subscribed and the company will further publish notice for re-auction. Nirdhan Utthan Bank Limited (NUBL) will able to earn minimum Rs 3.84 crore if the entire shares are sold. NGBBL has earned Rs 1.81 crore in the first quarter of the FY 2074/75. Likewise, Nirdhan Utthan Bank had also auctioned 14,641 units promoter share of Rural Microfinance Development Center Limited (RMDC) from Kartik 21, 2074 till Mangsir 8, 2074. The bids were opened on Mangsir 9 at NIBL Capital at 10 AM. As per an official of NIBL Capital, the cutoff price for promoter auctioned shares stood at Rs 326. The highest bid amount received was Rs 350. Total 6 applicants have submitted bid and only 2 applicants are allotted shares. All the promoter shares of RMDC were subscribed. ‘The data are preliminary, final output may vary, “added the official. RMDC had earned Rs 5.77 crore in the first quarter of the FY 2074/75.