Auction of four companies closing today; Make sure you don't miss out!
Premier Insurance Company (Nepal) Limited has auctioned 50,000 units promoter shares of Citizen Investment Trust from 25th Mangsir. This auction will close today, i.e. on 2nd Poush, 2077 at the end of banking hours.
Only banks, financial institutions, and insurance companies are eligible to bid in the auction. Rs. 1,900 is the minimum bid rate for the auction. While the minimum bid quantity is 100 units, there is no upper limit. Although bidders can bid for the entirety of the issue, any quantity in between should be divisible by 10.
Nabil Invest is appointed the auction manager. Importantly, bidders who are allotted are eligible to apply for the issue of 1:0.8284% or 82.84% right shares endorsed by Citizen Investment Trust's 25th AGM.
Similarly, today is the last day to bid in the auction of 86,900 units promoter shares of Nerude Laghubitta Sanstha Limited.
Prime Commercial Bank has auctioned 86,900 units of promoter shares of Nerude Laghubitta from 25th Mangsir. The auction will close today, i.e. on 2nd Poush, 2077 at the end of banking hours.
Prime Commercial Bank had previously auctioned 1,10,000 promoter shares of Nerude Laghubitta. Only 22,700 shares were allotted in that auction. The bank had then auctioned the remaining 87,300 units. However, since only 400 shares were allotted, the bank is reauctioning the remaining 86,900 units now.
While the minimum bid rate is Rs. 300, the minimum bid quantity should be 100 units. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity. The existing promoters, general public, and institutions are all eligible for bidding.
Bids will be opened in Poush 05, starting from 11:30 am.
Lastly, today is also the last day to bid for the promoter shares of RMDC Laghubitta and Grameen Bikas Laghubitta.
Deposit and Credit Guarantee Fund (DCGF) has been auctioning the promoter shares of RMDC Laghubitta and Grameen Bikas Laghubitta from Kartik 17.
DCGF is a government-sponsored and administered separate entity. As a deposit insurer, Deposit and Credit Guarantee Fund started the deposit guarantee scheme in Nepal from the year 2010. It is a system that protects depositors against the loss of their guaranteed deposits placed with banks and financial institutions (BFIs) in case of events leading to BFIs failure.
Deposit and Credit Guarantee Fund is auctioning 2,632 units promoter shares of RMDC Laghubitta Bittiya Sanstha Limited and 3,194 units promoter shares of Grameen Bikas Laghubitta Bittiya Sanstha Limited. The auction is open for existing promoters, the general public, and institutions. Both the auctions will conclude today, i.e. on 1st Mangsir, 2077.
The minimum bid quantity is 500 units. While bidders can bid for the entirety of shares in each auction, any quantity in between should be a multiple of 500. The minimum bid rate is Rs. 398.75 for the promoter shares of RMDC Laghubitta. Meanwhile, the minimum bid rate is Rs. 109.70 for the promoter shares of Grameen Bikas Laghubitta. Bidders will have to deposit 10% of the monetary bid amount as collateral while bidding for each of the auction. For more info, refers to the auction notice below.
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