Excel Development Bank Limited (EDBL) has allotted the bidders of the auction of its ordinary shares.
The unclaimed portion of the rights offering was auctioned from 29th Mangsir to 8th Poush. 27,257.2004 shares were auctioned. Individuals and institutions were all eligible to bid for the auction.
Rs. 100 was the minimum bid rate for the auction. While the minimum bid quantity was 100 units, there was no upper limit for the shares. Although bidders could bid for the entirety of the issue, they were required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.
NIBL Ace Capital was appointed the auction manager. According to the auction manager, Rs. 456.78 is the cut-off rate for ordinary shares. Thus, bidders who bid at or above the cut-off rate have been allotted with the shares. Bids were opened on Poush 15.