NRB allots 10 Lakh units of auctioned shares of NEPSE; remaining 7.29 Lakh units to be put up for auction again

Nepal Rastra Bank (NRB) had opened an auction for 17.29 Lakh units of shares of Nepal Stock Exchange (NEPSE) in order to divest its ownership in NEPSE.

NEPSE's paid-up capital stands at Rs.50 Crore of which 58.66% was invested by Government of Nepal, 34.60% by NRB, 6.12% by NIDC and 0.62% by the brokers. NRB is divesting its 34.60% ownership.

The minimum bid amount was set at Rs.1032 which is at a premium of Rs.932. The auction was open from Ashad 31 till Bhadra 02, 2076.

As per the spokesperson of NRB, Mr. Laxmi Prapanna Niroula, three valid applicants were received for the auctioned shares, applying for a total of 10 Lakh units of shares. Employee Provident Fund (EPF) has been allotted 5 Lakh units if shares at Rs.1032 per share, Prabhu Bank Limited (PRVU) was allotted 2.50 Lakh units of shares at Rs.1300 per shares which was also the maximum bid received and Laxmi Bank Limited (LBL) was allotted 2.50 Lakh units of shares at Rs.1101 per share.

The remaining 7.29 Lakh units of shares that remain unsold will be put up for auction soon as mentioned by Mr. Niroula.