Last day to bid for 11.41 lakh unit right shares of Kumari Bank; Paid-up capital to reach Rs 7.15 arba
Fri, Jul 13, 2018 1:37 AM on Auction, Dividend, Bonus & Rights, Latest, Stock Market,
Today is the last day to place bids for the auctioned shares of Kumari Bank Limited (KBL).
KBL is selling its unsubscribed 11,41,374.50 right shares through an auction. Interested bidders can place their bids till Ashadh 29, 2075 i.e. today.
The bank had floated right shares for its shareholders in the ratio 10:2 from Baisakh 28, 2075. KBL had issued 1,19,38,991.65 unit right shares at a par value of Rs 100 per share.
NIBL Ace Capital has appointed as the issue manager for the auction.
General public can apply for the 5,01,921.69 unit right shares of promoters group, however, the existing promoters will be given priority in case the bid price is same. Bidders can apply for a minimum 1,000 units for the shares of promoters group while they can apply for minimum 100 units of the shares of ordinary group.
The minimum bid price has been set as Rs 100 i.e. the bidders need to place their bids above Rs 100.
The bank has urged the bidders to deposit their entire bid amount in A/C No. 0010017460300001 in Kumari Bank Limited in the name of NIBL Ace Capital.
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.
