Last day to bid for 31,497.51 units auctioned ordinary shares of Tinau Dev. Bank at Rs. 100 and above

Investors interested in acquiring ordinary shares of Tinau Development Bank Limited (TNBL) have one last day to file their bids for the auctioned right shares. Tinau Development Bank Limited (TNBL) has been auctioning its 31,497.51 units ordinary right shares to the general public from Asadh 20, 2074 and today (Asadh 27 , 2074) is the last day. The development bank is selling 31,497.51 units ordinary share after the rights shares issued on Baisakh 7, 2073 were not fully subscribed by the investors. The bank had floated a total of 11,94,796.09 units right shares in the ratio 10:3.5 and around 2.63% right shares were left unclaimed. The bid will open to conclude the auction tomorrow (Ashad 28, 2074) at 7 AM. 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. Siddhartha Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hours till Ashad 27 at the Siddhartha Capital located at Naxal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account name Siddhartha Capital and account number 00115197722 of Siddhartha Bank. Bidders can also apply through a Good for Payment Cheque made in the name of Siddhartha Capital Limited. Tinau Bikas Bank has earned net profit of Rs 7.80 crore in the 3rd quarter of the fiscal year 2073/74. Its LTP stood at Rs 324 as of July 10, 2017.