Sahara Bikas Bank to auction unsold 23,605 units at Rs 100 & above from Poush 14

Sahara Bikas Bank Limited (SHBL) will be auctioning its ordinary and promoter shares to the general public from Poush 14, 2073. As per the notice published by the development bank today, the company will be selling 17,700 units’ promoter share and 5,905 units ordinary share after the rights shares issued on Ashwin 14, 2073 were not fully subscribed by the investors. The development bank had offered right shares at the ratio of 1:1.5. The auction will last till Poush 21, 2073. The bid will open to conclude the auction on Poush 22, 2073 at 2:30 PM. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of share. The development bank has urged interested bidders to submit their bids by 3:00 PM till Poush 21 at Global IME Capital Limited, Rastriya Nachghar, Jamal, Kathmandu. Global IME Capital Limited is the issue manager for this auction. The investors applying for the auction can deposit the bid amount in the name of Global IME Capital Limited (Account number 0010000431cc) at Citizens Bank International Limited, Kamaladi, Kathmandu. Its last traded price stood at Rs 1,279 as on May 17, 2016. Sahara Bikas Bank has net loss of Rs 23.70 lakh in the first quarter of the fiscal year 2073/74 as per unaudited report.