Sindhu Bikas Bank auctioning 2.73 lakh unit shares at Rs 100 & above from today

Sindhu Bikas Bank Limited (SINDU) is auctioning its ordinary and promoter right share to the general public from today (Mangsir 9, 2073). The bank is selling 81,282.75 units ordinary share and 1,92,485.25 units promoter right share after the rights shares issued on Ashwin 23, 2073 were not fully subscribed by the investors. The development bank had offered right shares at the ratio of 1:1. The auction will last till Mangsir 16, 2073. The bid will open to conclude the auction on Mangsir 17, 2073 at 1:00 PM. In case of any holiday on that day, the bid will open to conclude next working day at 3:00 PM. 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 units of share. NIBL Capital Markets Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hour till Mangsir 16 at NIBL Capital Markets Ltd located at Lazimpat, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number K-614493-CL of Kumari Bank Limited, Putalisadak, Kathmandu. Its last traded price stood at Rs 382 as on November 21, 2016.