No application received in Citizen Investment Trust auction for 2.11 lakh unit shares

For 2,11,515 unit auctioned shares of Citizen Investment Trust (CIT) by Nepal Bank Limited (NBL), managed by Siddhartha Capital, no any application was received. As per an official of Siddhartha Capital, “No one submitted application for the auction. Now, NBL will decide whether it will re-auction or not.” Nepal Bank Limited (NBL) had auctioned for 2,11,515 unit promoter shares of Citizen Investment Trust Limited (CIT) from Bhadra 27 to Ashwin 10, 2074. The commercial bank has stated that the minimum bid amount is set at Rs 3,050 and the interested applicants must bid for a minimum of 10,000 units of the share and maximum they can apply for 2,11,515 unit share. Only BFIs and Insurance companies can apply for the auctioned shares Siddhartha Capital Limited is the issue manager for this auction. The last traded price (LTP) of CIT stands at Rs 3611 as of last trading day. Earlier also, Nepal Bank had auctioned 3, 99,940 units of promoter shares of Citizen Investment Trust Limited at Rs 3500 and all the shares were not subscribed at that time.