Last day to bid 10.55 lakh units auctioned shares of Gurkhas Finance at Rs 100 & above; LTP at Rs 196

Gurkhas Finance Limited (GUFL) is closing its auction for unclaimed ordinary and promoter right shares today (Shrawan 19, 2074). The finance company is selling 9,00,793 units promoter shares and 1,54,396 units ordinary shares after the 28,93,313 units right shares issued on Jestha 1, 2074 were not fully subscribed by its shareholders. GUFL had offered right shares in the ratio 2:1. Around 36.46% of the total right issue was unsubscribed. The minimum bid price for the shares is set for Rs 100, which means the bid amount per share should be greater than Rs 100. The auction was open from Shrawan 10, 2074 and the bids will be opened to conclude the auction on Shrawan 20, 2074 at 10:00 AM. Bidders must apply for a minimum of 100 units of shares. Only existing promoters of the company can bid for the auctioned promoter shares. NIBL Capital Markets Limited is the issue manager for the auction. Applicants can collect the bid forms from NIBL Capital Markets Limited, Lazimpat, Kathmandu. The finance company has urged interested bidders to deposit the bid amount within banking hours till Shrawan 19, 2074 in the account number 0124524615903016 maintained in the name NIBL Capital-Gurkhas Risht Issue at Kumari Bank Limited. GUFL has earned net profit of Rs 10.30 crore in the third quarter of the FY 2073/74. Its paid up capital currently stands at Rs 57.86 crore. After the capitalization of the right shares, it’s paid up capital reached Rs 86.79 crore. Its last traded price (LTP) stood at Rs 196 as on August 2, 2017.