NIDC Dev. Bank opens bid for 1.62 lakh unit promoter shares of Nabil Bank today; preliminary cut off price stood Rs 1631

NIDC Development Bank Limited (NIDC) had invited sealed bids for 1, 62,981 units of (Group B) promoter shares of Nabil Bank Limited through an auction to end the crossholding among the BFIs. The auction started from Chaitra 12, 2072 and last till Baisakh 2, 2073. The closed bid was opened today at its head office at Dubarmarg in Kathmandu at 11:00 AM in presence of the bidders and concerned officials. According to source,   the bank set the cut-off price for the 1, 62,981 units promoter shares of Nabil bank at Rs 1631.  The highest bid amount for the auction shares received was Rs 1800 and lowest bid amount was Rs 1,353. Only 4 applicants were allotted shares out of  684 applicants who submitted their bids for 1, 62,981 units of promoter shares of Nabil Bank. The minimum bid amount was set at Rs 1,353, and that the interested applicants had to bid for at least 100 units of the scrip. The bank will refund the non allotees within 15 days from the auction open date. The last trading price (LTP) of NABILP shares stood at Rs 1690 as on April 26, 2016. LTP of NABILP on the  closing day of auction i.e on April 14, 2016 stood Rs 1615.