Kumari Bank to open bids for its auctioned right shares today; Paid-up capital to reach Rs 7.15 arba

Kuamri Bank Limited (KBL) will be opening the closed bids received for the auction of its unsold right shares today from 10:00 AM.

The commercial bank had floated 1,19,38,991.65 unit right shares at a par value of Rs 100 per share from Baishakh 28, 2075 till Jestha 31, 2075 out of which 11,41,374.50 unit right shares  were unsubscribed. The auction had opened for the unsold right shares including 5,01,921.69 unit right shares of promoter group and 6,39,452.81 unit right shares of ordinary shareholders group from Ashadh 22, 2075 to Ashadh 29, 2075.

NIBL Ace Capital Limited has been appointed as the issue manager for the auction.

After the adjustment of 20% right shares, the paid up capital of the bank will reach Rs 7.15 arba. It will still have to raise its capital by around Rs 85 crore to meet the capital requirement of Rs 8 arba.

The last traded price (LTP) stands at Rs 190 as on Ashadh 28, 2075.