Bid submission for Manaslu, Mahakali Bikas Banks auction shares ending today

ShareSansar, March 27:

Investors interested in acquiring the shares of Manaslu Bikas Bank Limited (MSBBL) and Mahakali Bikas Bank Limited (MBBL) have one more day to file their bids for the auctioned right shares of both the banks.

The deadline for submitting sealed bids for the auctioned shares is ending today.

While Manasalu Bikas Bank Limited had called for sealed bids for 1,04,855 unit right shares on Chaitra 5, Mahakali Bikas Bank Limited (MBBL) had called for sealed bids for 1,48,282 units of unclaimed promoter right shares on Chaitra 6.

Of the total right shares Manaslu had offered in the month of Magh, 1, 04,855 unit shares--76,650 units under promoter category and 28,305 unit ordinary right shares—remained unsubscribed. Manaslu had offered right shares at the ratio of 4:1.  

While both auction close at the end of today’s office hours, the bids for Manaslu’s shares will be opened on Chait 15 and that of Mahakali on Chait 16.

Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100.

Growmore Merchant Banker Limited is the issue manager for Manaslu’s auction whereas Mahakali’s auction is managed by Ace Capital Limited.

Manaslu Bikas Bank Limited had posted a net profit of Rs.11.03 million in its 2nd quarter of the fiscal year 2071/72. Likewise, Mahakali Bikas Bank had posted a net profit of Rs 1.06 crore in the same period.