Deposit and Credit Guarantee Fund (DCGF) auctioning promoter shares of RMDC Laghubitta and Grameen Bikas Laghubitta
Deposit and Credit Guarantee Fund (DCGF) is auctioning the promoter shares of RMDC Laghubitta and Grameen Bikas Laghubitta.
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 from today, i.e. 17th Kartik. Both the auctions will conclude 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.
