Nepal Grameen Bikas Bank to auction 87,564.74 units promoter shares of RMDC to promoters & general public from Bhadra 15; Minimum bid price reduced to Rs 401

Nepal Grameen Bikas Bank Limited (NGBBL) will be auctioning its 87,564.74 units promoter shares of Rural Microfinance Development Centre (RMDC) from Bhadra 15, 2074 to promoters as well as general public. Earlier, the company had auctioned the shares for promoters of RMDC twice, and could sell only 1000 units in auction then, so the company has decided to auction the promoter shares again. This time the company has deduct its minimum bid price to Rs 401, before it had auctioned the shares ta Rs 501 per share. Minimum bid price of Rs 401 per share has been set for the auction, which means the bid price must be equal to or greater than Rs 401 per share. Applicants must apply for a minimum of 1,000 units and they can apply for up to 87,564.74 units of promoter shares. NMB Capital Limited is the issue manager for this auction. The auction forms must be submitted by Bhadra 23, 2074 1:30 PM at NMB Capital. The bid will open to conclude the auction on Bhadra 25, 2074 at 4:00 PM. Interested bidders can collect auction forms from NMB Capital Limited, Nagpokhari, Naxal, Kathmandu and the bid amount can be deposited in the account number 00100100054010000003 maintained in the name NMB Capital Limited – Issue Account at NMB Bank Limited. Nepal Grameen Bikas Bank has earned net profit of Rs 16.14 crore in the fourth quarter of the FY 2073/74. Nepal Grameen Bikas Bank is also going to issue a further 9,75,000 units shares as a part of its Further Public Offering. NGBBL will be issuing the FPO shares without adding any premium i.e. at Rs 100 per share only.