Saptakoshi Development Bank to auction unsold 9.73 lakh unit right shares at Rs 100 & above from today; around 35.5% shares unsubscribed

Saptakoshi Development Bank Limited (SKDBL) is auctioning 9,73,677 unit unsold right shares. The development bank is auctioning 48,120 unit ordinary and 9,25,557 unit promoter shares. Around 35.5% of the total issue were unsubscribed. The development bank had issued 130% right shares to its shareholders from Ashad 30 to Bhadra 9, 2074. The auction will last till Kartik 1, 2074 and the bid will be opened to conclude the auction on Kartik 5,2074. NMB Capital Limited is the issue manager for this auction. 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 unit of shares for ordinary and a minimum of 1000 unit of shares for promoter. Moreover, only existing promoter are eligible to bid for promoter shares. Interested investors can collect bid forms from NMB Capital Limited, Nagpokhari, Kathmandu and submit their bids within office hours on Kartik 1, 2074. The development bank has urged all bidders to deposit the bid amount in account number 00130600054010000195 maintained in the name of NMBCL – Right SKDBL 2073/074 at NMB Bank Limited. Also the bidders can submit their application with Good For Payment Cheque. 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%. Its LTP stood at Rs 184 as of last trading day.