Lumbini Bikas Bank to sell 1.97 lakh unit promoter shares via auction from Magh 27 to Falgun 3, 2075; Applications can be placed for minimum 100 units

Lumbini Bikas Bank Limited (LBBL) will be selling its unsold right shares through auction from Magh 27. The bids for 197,596.44 unit shares will be accepted till Falgun 3, 2075.

The development bank has urged the interested bidders to place applications for minimum 100 units with no upper limit and the minimum bid price has been set as Rs. 100 so the bids should be placed above Rs. 100.

Vibor Capital Limited has been appointed as the issue manager for the auction of the shares. The application form can be collected and deposited in the branches of the capital.

The bidders should deposit the entire bid amount in the A/C no. 03100120004102000002 of Lumbini Bikas Bank.

After adjustment of 10% right shares, its paid-up capital will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%).

Recently, the company had proposed 17.35% bonus share from the profit of 2074/75 FY; which will increase its capital to Rs 2.58 arba.

See the announcement