RBB to close Nepal Investment & NABB Share Auction today; likely to be sold

ShareSansar, December 15:

Rastriya Banijya Bank Limited (RBBL) is closing the auction sell of 57,96,757 units Nepal Investment Bank Limited (NIBL) group ‘B’ promoter shares and 1,78,927 units Nepal Aawas Finance Limited (NABB) promoter shares to the general public from today.

Bhupendra Pandey, Treasury Chief of RBB told Sharesasnar that “Till Sunday we have collected around Rs 150 million rupees from individual investors, there will be more subscription by Institutional investors on Monday”.

Pravin Ram Parajuli, CEO of Nabil Investment further adds that auction of Nepal investment Bank’s promoter share will likely to be oversubscribed. He seems assured that there will be 100 percent oversubscription of the auction of Nepal Aawas Finance promoters share too.

The interested individuals or firms can apply for the minimum of 100 shares while they can bid for the maximum units divided by 10. The bidding was opened from Mangsir 23 till Mangsir 29, 2071.

The minimum per unit share price has been set Rs 400 for NIBL and Rs 101 for Nepal Aawas; which means that the investors must quote at least Rs 400 for the NIBL per unit shares and Rs 101 for the Nepal Aawas Finance Limited in the auction process.

The Investors applying for this auction this time compulsorily must have Demat account open in their name from the respective Depository Participants (DP) offices.

The interested individuals or firms can apply for the minimum of 100 shares while they can bid for the maximum units divided by 10. The bidding will be opened from Mangsir 23 till Mangsir 29, 2071.

Earlier in Bhadra, RBBL has offered to sell its 6,220,066 units of shares of NIBL through open bidding at the minimum bid price of Rs 530 per share. But at that time, the company was able to sell only 11,79,408 units shares to the 750 bidders in total.

According to the notice, the interested investor can get the tender form from various collection centers at RBBL’s branch offices inside and outside the Kathmandu valley as well as from the Nabil Investment’s office at Naxal, Kathmandu at free of any charges.

Investors can collect the forms from RBBL’s following branch offices Bishalbazar, Thapathali, Banseswor, Maharajgunj, Gaushala, Bhotahiti, Teku, Kalanki in Kathmandu, Pulchowk in Lalitpur and Suryabinayak branch office in Bhaktapur.

Similarly, they can get the forms from Banepa, Chitwan, Biratnagar, Dharan, Hetuada, Bhairhawa, Butwal, Nepalgunj, Mahendrapul in Pokhara, Birtamod, Janakpur, Bidur, Birgunj, Dhangadhi, Tulsipur, Lahan and Kanchanpur branches outside the Kathmandu valley.