Bhargav Bikas Bank auctioning 85,231 units unclaimed right shares from today; LTP at Rs 313

Bhargav Bikas Bank Limited (BHBL) is going to auction 52,765 ordinary right shares and 32,466 promoter right shares from today (Jestha 26, 2074). The minimum bid price is Rs 100 per share. The development bank is selling the shares after all of the right shares issued from Falgun 24 to Chaitra 28, 2073 were not fully claimed by its existing shareholders. BHBL had issued right shares in the ratio 1:1. NMB Capital Limited is the issue manager for this auction. Interested bidders must apply for a minimum of 100 units of shares. Only existing promoters of the bank can apply for the promoter shares. Bid forms can be collected from NMB Capital, Nagpokhari, Kathmandu or Bhargav Bikas Bank’s head office in Surkhet Road, Nepalgunj after paying a fee of Rs 100 per application form. Bidders can deposit the bid amount in account number 001306000540100000175 maintained in the name NMBCL-BHARGAV RIGHT 2073/074 at NMB Bank Limited by 1:00 PM till Ashad 2, 2074. Applicants can also apply through a Good for Payment cheque. The bid will open to conclude the auction on Ashad 4, 2074. BHBL has earned net profit of Rs 2.43 crore in the third quarter of the FY 2073/74. It has proposed a further 80% right share to meet up with NRB’s directive to increase its paid up capital to a minimum of Rs 50 crore by the end of Ashad 2074. Its last traded price stood at Rs 313 as of yesterday (June 8, 2017).