Sahara Bikas Bank's 10.44 lakh unit right shares auction begins from today; Applications can be placed for 100 units of ordinary shares and 1,000 units of promoter shares

The auction for the 10.44 lakh unit unsold right shares of Sahara Bikas Bank Limited (SHBL) begins from today.The auction will last till Mangsir 5, 2075.

The development bank is selling 9,28,248.70 units promoter shares and 1,16,007.30 units ordinary shares via auction.

The bank has urged the interested bidders to place bids above Rs 100 for the shares. They can apply for a minimum 100 units of ordinary shares and 1,000 units of promoter shares.

NIBL Ace Capital has been appointed as the issue manager for the auction. The application forms can be collected from the designated branches of NIBL Ace Capital, Nepal Investment Bank Limited or Sahara Bikash Bank Limited.

The development bank has urged the bidders to deposit the entire bid amount in A/C No 0010020013300001 of Kumari Bank Limited in the name of NIBL Ace Capital.

The development bank had issued 18,24,870 unit right shares to the shareholders holding shares till Baisakh 9, 2075. After the adjustment of 250% right shares, its paid-up capital will reach Rs 25.55 crore.

SHBL is in the process of being acquired by Deva Bikas Bank Limited (DBBL).