Lumbini Bikas Bank to sell 3.44 lakh unit shares via auction from Poush 25; Applications can be placed for minimum 100 units

Lumbini Bikas Bank Limited (LBBL) will be selling its promoter right shares through auction from Poush 10. The bids for 3,44,946.44 unit shares will be accepted till Poush 25, 2075.

The development bank has urged the interested bidders to place applications for minimum 100 units. 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%).