Bid opening of auctioned unsold promoter right shares of Jebils Finance concludes; cut off stands at Rs.100

Jebils Finance Limited (JEFL) had closed the auction of its 340,955.50 units of unsold promoter right shares on Chaitra 13, 2075. The bid opening day of the auction was today. Only the existing promoters were eligible to apply for this auction.

Sunrise Capital Limited had been appointed as the issue manager for the auction of the shares. As per the issue manager, 14 applications had been received for the auction. The cut off for the auctioned shares stands at Rs.100 while the maximum bid received was for Rs.105.11 per share. The unsold shares have been fully subscribed.

The LTP of the promoter shares of the finance company stands at Rs.130 per share as of 27^th August, 2017.

Earlier, the finance company sold 665,955.50 units promoter shares and 331,672.50 units ordinary shares in auction but promoter shares was not fully subscribed.

After the adjustment of 40% right share the paid-up capital will reach Rs.80.91 Crore from current capital of Rs.57.79 Crore

The company is in acquisition process by Nepal Investment Bank Limited.