Last day to bid 45,487 unit of Kamana Bikas Bank & 4.24 lakh unit auctioned shares of Gurkhas Finance

Today is the last day to bid 45,487.60 unit of  Kamana Sewa Bikas Bank Limited and 4,24,420 unit unclaimed right shares of Gurkhas Finance Limited (GUFL). Kamana Sewa Bikas Bank Limited is closing its re-auctioning for 45,487.60 units right shares to the general public today (Ashwin 22, 2074). It is selling 18,367.26 units ordinary shares and 27,120.34 units promoter shares after the right shares issued from Ashwin 8, 2074 were not fully subscribed by its shareholders in the previous auction. It had offered right shares in the ratio of 1:0.3. The bid will open to conclude the auction on Ashwin 25, 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. KSBBL’s last traded price (LTP) stood at Rs 215 as of last trading day. Likewise, Gurkhas Finance Limited (GUFL) is also closing re-auction for unclaimed promoter shares today (Ashwin 8, 2074). It is reselling 4,24,420 units promoter shares as all the right shares were not subscribed by its shareholders or in the previous auction. Only 4.88 lakh units out of 9.007 lakh units were subscribed in the previous auction. NIBL Capital Markets Limited is the issue manager for the auction. The auction was open from Ashwin 4, 2074 and the bids will be opened to conclude the auction on Ashwin 23, 2074 at 10 AM. Interested bidders must apply for a minimum of 100 units. 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 Ashwin 22, 2074 in the account number 0124524615903016 maintained in the name NIBL Capital Markets Limited at Kumari Bank Limited. Applicants can also apply through a Good for Payment cheque made in the name of NIBL Capital. GUFL has earned net profit of Rs 13.75 crore in the fourth quarter of the FY 2073/74. Its paid up capital currently stands at Rs 76.24 crore.