Om Development Bank allotted 46.79 lakh unit right shares; to auction 2.52 lakh unit from Poush 2

Om Development Bank Limited (ODBL) has allotted right shares to its shareholders. As per the notice published by the development bank today, only 46,79,166 unit shares were allotted to the shareholders. It had issued right shares from Asoj 23 to Kartik 26, 2074 in the ratio of 10:3 (30%).The development bank will be refunding from Mangsir 25, 2074 to those who are not allotted with the shares. Out of total issue, 2,52,669 unit shares remain unsold (around 5.10%). The development bank will be auctioning unsold share to the general public through auction from Poush 2, 2074. The auction will last till Poush 9, 2074. The development bank will be selling 46,082 units ordinary shares and 2,06,587 units promoter shares after the right shares issued till Kartik 26, 2074 were not fully subscribed by its shareholders. 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 of shares for ordinary shares and minimum of 1,000 units of shares for promoter shares and the shares applied for should be a multiple of 10. Only existing promoter can apply for promoter shares category. NIBL Capital Markets Limited is the issue manager for this auction. The development bank has urged interested bidders to submit their bids within banking hour till Poush 9, 2074 at NIBL Capital Markets Limited, Lazimpat, Kathmandu or designated branches of Nepal Investment Bank Limited and Om Development Bank Limited. The investors applying for the auction can deposit the bid amount in the account number 0124524617054016 maintained in the name of NIBL Capital Markets Limited at Kumari Bank, Putalisadak or can apply through Good for Payment cheque. Its paid up capital currently stands at Rs 1.64 arba and after adjustment of right share its paid up capital will reach Rs 2.13 arba. As per NRB’s directive for all national level development banks, the bank should increase its paid up capital to Rs 2.50 arba by the end of FY 2073/74. ODBL had earned net profit of Rs 3.74 crore till the end of first quarter of FY 2074/75. Its LTP stood at Rs 263 as of last trading day.