Sewa Bikas Bank re-auctioning unclaimed 7.52 lakh units promoter shares at Rs 100 & above from today

Sewa Bikas Bank Limited (SEWA) is auctioning its 7.52 lakh units unsold promoter shares from today (Chaitra 24, 2073). The development bank is reselling 7,52,151 units promoter shares as all the right shares were not subscribed by its shareholders or in the previous auction. Only 2.88 lakh units out of total 10.40 lakh units were subscribed in the previous auction. The development bank had earlier auctioned its shares on Falgun 17, 2073. The auction will last till Chaitra 30, 2073 and the bid will open to conclude the auction on Chaitra 31, 2073 at 4:00 PM. General public are also eligible to apply in this auction. 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 1,000 units for the promoter shares. The number of shares applied must be a multiple of 10. SEWA has urged interested bidders to submit their bids by 3:00 PM till Chaitra 30, 2073 at NMB Capital Limited, Naxal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 00130600054010000169 maintained in the name of NMBCL-Sewa Right 2073/074 at NMB Bank Limited. Bidders can also apply through a “Good for Payment” cheque. Sewa Bikas Bank Limted has posted a net profit of Rs 7.72 crore till the second quarter of the fiscal year 2073/74. Kamana and Sewa Bikas Bank Limited have signed Memorandum of Understanding (MOU) for merger on Mangsir 10, 2073. After merger, the merged entity will be named “Kamana Sewa Bikas Bank Limited”.