Saptakoshi Development Bank re-auctioning 8.21 lakh unit promoter shares

Saptakoshi Development Bank Limited (SKDBL) will be re-auctioning unsold promoter shares. As per an official of NMB Capital, around 8,21,437 unit shares will be re-auctioned but the date is yet to be fixed. Out of total 9,25,557 unit unsubscribed promoter shares during right issue, only 1,04,120 units are sold in previous auction. In previous auction, all those who had applied for promoter share grabbed the shares. SKDBL’s current paid up capital remains at Rs 21.10 crore. After the issuance of 130% right, its paid-up capital will reach Rs 48.53 crore. It has an authorized capital of Rs 1 arba. Its promoter-public ratio stands at 60:40. As per NRB’s directive for all 1-3 district level development banks to maintain a minimum paid up capital of Rs 50 crore by the end of FY 2073/74, SKDBL will need to further increase its paid up capital by only 3%.