Siddhartha Bank to sell 2.14 lakh unit unsold right shares via auction today; Only existing promoters can apply for the 40k units promoter shares

Siddhartha Bank Limited (SBL) is auctioning its unsold 10:1 right shares from today i.e. Jestha 3, 2075. The auction for 2,14,336.19 unit shares will end on Jestha 10, 2075 which includes 40,020.64 unit promoter shares and 1,74,315.55 unit ordinary shares. In total, 3.14% of shares were left unsubscribed from the total 68.26 lakh units floated from 2nd Falgun to 6th Chaitra, 2074.

The interested bidders can place bid for minimum of 100 unit shares for both groups whereas only the existing promoters can bid for the promoter shares. The minimum bid price for the auction has been set as Rs 100 i.e. the bidders should place their bids above Rs 100.

Siddhartha Capital Limited has been appointed as the issue manager for the auction.

The bank has urged the bidders to deposit their entire bid amount in the A/C No. 0011527524 of Siddhartha Bank Limited in the name of Siddhartha Capital Limited.

The bank had issued 10% right shares worth Rs 64.26 crore. After the adjustment of right shares, the paid-up capital of the bank will reach Rs 7.50 arba. The bank has already distributed 14% bonus shares for its shareholders from the profit of FY 2073/74, after which its paid up capital will stand at Rs 8.45 arba.