NIDC calls bids for 2.09 lakh units Nabil promoter shares; Rs 1,327 base price

NIDC calls bids for 2.09 lakh units Nabil promoter shares; Rs 1,327 base price
ShareSansar April 7:

NIDC Development Bank has invited sealed bids for 2.09 lakh units of (Group B) promoter shares of Nabil Bank Limited it holds in a bid to comply with the NRB directive to end cross-holding of BFI scrips.

Issuing a tender notice today, the state-run development bank has stated the minimum bid amount has been set at Rs 1,327, and that the interested applicants must bid for a minimum of 100 units of the scrip or above.

The minimum bid amount is higher than the last traded price of Nabil’s promoter shares, which stands at 1,325.

Earlier, NIDC Development bank had auctioned 10.76 lakhs units of group B promoter shares of Nabil Bank. At the time the minimum bid amount was set at Rs 1,254. Even then, the minimum bid amount was higher than the last traded price of Nabil’s promoter shares.

An NIDC official said that the latest announcement was for the auction of the lot of promoter shares, which includes the bonus shares offered by the company.

The interested bidders can file bids from today.  They must also submit the closed bids within 21 days (i.e. 27th April , 2015) at NIDC’s central office at Durbar Marg or its branches at New Road, Biratnagar, Pokhara and Dhangadhi.

The tender bid form costs Rs 500 and the bidder must deposit at least 2.5 percent of the total bid amount in advance.

This is the fifth time NIDC is trying to auction the promoter shares of Nabil it has been holding for years now.