Kamana Sewa Bikas Bank Limited had auctioned its 1,33,338.26 unit ordinary shares and 42,120.34 units promoter shares right share to the general public from Bhadra 11, 2074 till Bhadra 21, 2074.
An official of NIBL Capital Markets Limited, which managed the auction informed that the preliminary cut off price for 1,33,338.26 unit ordinary shares stood at Rs 100. The highest bid amount for the auction shares received was Rs 325 Total 162 applicants have submitted their bids for ordinary shares and all of them grabbed shares.
Similarly, for 42,120.34 unit promoter shares, the development bank has set a preliminary cut off price at Rs 107.50. Only 1 applicant had submitted their bids for promoter shares and got shares.
Both ordinary and promoter shares are still left to be sold and the development bank will further publish notice for re-auction.
Kamana Sewa Bikas Bank Limited is the merged entity between Pokhara based Kamana Bikas Bank Limited (KMBL) and Butwal based Sewa Bikas Bank Limited (SEWA). After their merger, the merged entity will have a paid up capital of Rs 2.06 arba. As per NRB’s directive for all national level development banks to increase their paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74, the merged bank will need to issue a further capital hike of around Rs 44 crore (around 21.50%).
Kamana has earned net profit of Rs 17.65 crore in the fourth quarter of the FY 2073/74 and in the same period SEWA has earned Rs 17.28 crore. Kamana Bikas Bank’s last traded price (LTP) stood at Rs 355 as of last trading day.
