Last day to bid 12.61 lakh units shares of Sewa Bikas Bank

Investors interested in acquiring the shares of Sewa Bikas Bank Limited (SEWA) have one more day to file their bids for the auctioned promoter and ordinary right shares. The deadline for submitting bids for the auctioned unsold right shares is ending today (Falgun 23, 2073) and the bids will be opened to conclude the auction on Falgun 24, 2073 (tomorrow). The development bank is selling 2,21,607 units ordinary shares and 10,40,171 units promoter shares after the rights shares issued on Mangsir 23, 2073 were not fully subscribed by the shareholders. The bank had offered right shares in the ratio of 1:1.2. NMB Capital Limited is the issue manager for this auction. The auction will last till Falgun 23, 2073. The bid will open to conclude the auction on Falgun 24, 2073 at 3:00 PM. The auction will open at the premises of NMB Capital Limited, Nagpokhari, Kathmandu. 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 ordinary shares and a minimum of 1,000 units of promoter shares. The number of shares applied must be a multiple of 10. Only existing promoters of the development bank can bid for the promoter shares. The bank has urged interested bidders to submit their bids by 3:00 PM till today at NMB Capital Limited, Nagpokhari, Naxal, Kathmandu or at head office of Sewa Bikas Bank, Butwal. Application forms can be collected from NMB Capital, Naxal or Sewa Bikas Bank, Butwal by paying a fee of Rs 100 per application form. The investors applying for the auction can deposit the bid amount in the account number 00130600054010000169 maintained in the name of NMBCL-Sewa Right 2073/074 at NMB Bank Limited. Bidders can also apply through a “Good for Payment” cheque. Sewa Bikas Bank Limted has posted a net profit of Rs 7.72 crore till the second quarter of the fiscal year 2073/74. Kamana and Sewa Bikas Bank Limited have signed Memorandum of Understanding (MOU) for merger on Mangsir 10, 2073. After merger, the merged entity will be named “Kamana Sewa Bikas Bank Limited”. Its last traded price stands at Rs 309 as of November 24, 2016.