Gandaki Bikas Bank & Reliance Finance auctioning 3.53 & 6.52 lakh unit unclaimed right shares at Rs 100 & above respectively from today

Gandaki Bikas Bank is auctioning 3.53 lakh unit unclaimed right shares from today (Chaitra 1, 2074). The development bank is auctioning for the sale of 1,30,716.90 unit and 2,22,184.60 unit right shares from promoters group and public shareholders group respectively. The auction will last till Chaitra 8, 2074. Bidders must quote a minimum price of Rs 100 per unit which means the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of shares and the shares applied should be a multiple of 10. Prabhu Capital Limited is the issue manager for this auction. The bank has urged the interested bidders to submit their bids within banking hours till Chaitra 8, 2074 at Prabhu Capital Limited, Kathmandu or also in the designated branches of Gandaki Bikas Bank Limited. The investors applying for the auction can deposit the bid amount in the account number 13511600631816000004 in the name of Prabhu Capital Limited at Prabhu Bank Limited or can apply by issuing good for payment cheque. Only the existing promoters are eligible to apply for the 1,30,716.90 unit right shares of promoters group. The bank’s current paid up capital is Rs 1.84 arba and after issuing the right shares its paid up capital will reach Rs 2.30 arba.  As per NRB’s directive for national-level development banks, GDBL should increase its paid-up capital to Rs 2.50 arba. Thus it should further hike its capital by Rs 20 crore (around 8.69%). It had earned Rs 20.45 crore in the second quarter of the FY 2074/75. Its LTP stood at Rs 232 as of last trading day. Notice Reliance Finance Limited (RLFL) is also ­auctioning 6.52 lakh unit unclaimed right shares from today (Chaitra 1, 2074). The finance company is auctioning 5,42,314.52 unit promoter shares and 1,10,626.08 unit ordinary shares after the right shares issued from Mangsir 22, 2074 to Magh 12, 2074 were not fully subscribed by its shareholders. The finance company had floated a total of 23,06,572 units right shares in the ratio 10:4.5 (55%) and around 28.31% right shares were left unclaimed. The auction will last till Chaitra 8, 2074. Sunrise Capital Limited is the issue manager for this auction. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100.Interested bidders must bid for a minimum of 100 units of shares for ordinary and 1000 units of shares for promoter category. Here, existing promoter and general public also are eligible to apply for promoter shares. Interested investors can collect bid forms from Sunrise Capital Limited, Kamalpokhari, Kathmandu, designated branches of RLFL and Sunrise Bank Limited and submit their bids within office hours on Chaitra 8, 2074. The finance company has urged all bidders to deposit the bid amount in account number 0690371114401010 maintained in the name of Sunrise Capital at Sunrise Bank Limited or in 10211090000273 maintained at RLFL or can issue Good for Payment cheque as well. RLFL’s current paid up capital remains at Rs 51.25 crore. After issuance of 45% right share, its paid up capital will reach Rs 74.32 crore. As per NRB’s directive for all national level finance companies to increase their paid up capital to a minimum of Rs 80 crore, RLFL should increase a capital of Rs 5.68 crore (around 7.65%). It had earned Rs 10.98 crore in the FY 2073/74. Its last traded price stood at Rs 124 as of last trading day.