Kamana Sewa Bikas Bank to auction unclaimed 1.75 lakh units shares at Rs 100 & above from Bhadra 11; LTP at Rs 355

Kamana Sewa Bikas Bank Limited will be auctioning its unclaimed 1,75,358.60 units right shares to the general public from Bhadra 11, 2074. As per the notice published by the development bank today, it is selling 1,33,338.26 units ordinary shares and 42,120.34 units promoter shares after the right shares issued from Ashad 11 to Shrawan 15, 2074 were not fully subscribed by its shareholders. It had offered right shares in the ratio of 1:0.3. Around 7.26% of the total right issue were unsubscribed. The auction will last till Bhadra 18, 2074. The bid will open to conclude the auction on Bhadra 20, 2074 at 10 AM at NIBL Capital Markets Limited. 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 and the shares applied for should be a multiple of 10 for ordinary shares and for promoter, minimum of 1000 units of shares is compulsory. NIBL Capital Markets Limited is the issue manager for this auction. The development bank has urged interested bidders to submit their bids within banking hour till Bhadra 18, 2074 at NIBL Capital Markets Limited, Lazimpat, Kathmandu or also in bank’s head office located at Pokhara, Lekhnath – 8. The investors applying for the auction can deposit the bid amount in the account number 0124524616107019 maintained in the name of NIBL Capital Markets Limited at Kumari Bank, Putalisadak. Kamana Sewa Bikas Bank Limited is the merged entity between Pokhara based Kamana Bikas Bank Limited (KMBL) and Butwal based Sewa Bikas Bank Limited (SEWA). After their merger, the merged entity will have a paid up capital of Rs 2.06 arba.. As per NRB’s directive for all national level development banks to increase their paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74, the merged bank will need to issue a further capital hike of around Rs 44 crore (around 21.50%). Kamana has earned net profit of Rs 17.65 crore in the fourth quarter of the FY 2073/74 and in the same period SEWA has earned Rs 17.28 crore. Kamana Bikas Bank’s last traded price (LTP) stood at Rs 355 as of last trading day.