Last day to bid 16,386 units unclaimed right shares of Sahayogi Bikas Bank; LTP at Rs 370

Sahayogi Vikas Bank Limited (SBBLJ) is closing its unclaimed ordinary right shares today (Shrawan 5, 2074). The bank is selling 16,386 units ordinary shares after the right shares issued from Jestha 1 to Ashad 4, 2074 were not fully subscribed by its shareholders. SBBLJ had offered 11,01,135 units  right shares in the ratio 100:35. Around 1.49% right shares were 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 Ashad 29, 2074 and the bids will be opened to conclude the auction on Shrawan 6, 2074 at 1:00 PM. Bidders must apply for a minimum of 100 units of shares. Sunrise Capital Limited is the issue manager for the auction. Applicants can collect the bid forms from Sunrise Capital Limited, Kamalpokhari, Kathmandu. The bank has urged interested bidders to deposit the bid amount within banking hours on Shrawan 5 in the account number 0020368130401001 maintained in the name of Sunrise Capital Limited in Sunrise Bank Limited, Gairidhara. SBBLJ has earned net profit has of Rs 9.29 crore in the third quarter of the fiscal year 2073/74. Its paid-up capital stands at Rs 31.46 crore and after capitalization of 35% right share (including these auctioned shares), its paid up capital will reach Rs 42.47 crore. As a 1-3 district level development bank, SBBLJ should increase its paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74. Its LTP stood at Rs 370 as of yesterday (July 19, 2017).