Last day to bid for 33.77 lakh units auctioned shares of Jyoti Bikas Bank; LTP stood at Rs 204

Jyoti Bikas Bank Limited (JBBL) is closing its auction for 33.77 lakh units unclaimed right shares today (Ashad 28, 2074). The bank is selling 5,65,171.40 units ordinary shares and 28,12,336.60 units promoter shares after the right shares issued from Baisakh 28 to Jestha 31, 2074 were not fully subscribed by its shareholders. The bank had issued 1,10,43,171 units right shares in the ratio 1:1 out of which 60.51% i.e. 66,82,223 units were promoter shares. A whopping 42% promoter right shares were unclaimed, which might show that the promoters have little trust for the bank. 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 they can apply for a maximum of 1 lakh units ordinary shares and 4 lakh units promoter 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 28 at Siddhartha Capital located at Naxal, Kathmandu. The investors applying for the auction can deposit the bid amount in account number 00115255841 maintained in the name Siddhartha Capital at all branches of Siddhartha Bank. Bidders can also apply through a Good for Payment Cheque made in the name of Siddhartha Capital Limited. Jyoti Bikas Bank Limited has earned net profit of Rs 19.26 crore in the third quarter of FY 2073/74. Its last traded price stood at Rs 204 as of yesterday (July 11, 2017).