Sunrise Bank & Kamana Sewa Bikas Bank auctioning unsold 7.10 lakh & 45,487.60 unit right shares at Rs 100 & above from today

Sunrise Bank Limited (SRBL) is ­auctioning its 7,10,743 units unclaimed right shares from today (Ashwin 8, 2074). The commercial bank is auctioning 6,38,131 units ordinary shares and 72,612 units promoter shares after the right shares issued from Jestha 16, 2074 to Ashad 19, 2074 were not fully subscribed by its shareholders. The bank had floated a total of 16,359,636 units right shares in the ratio 10:3 and around 4.34 % right shares were left unclaimed. The auction will last till Ashwin 22, 2074 and the bids will be opened to conclude the auction on Ashwin 23, 2074. Sunrise 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 units of shares. Interested investors can collect bid forms from Sunrise Capital Limited, Kamalpokhari, Kathmandu and submit their bids within office hours on Ashwin 22, 2074. The bank has urged all bidders to deposit the bid amount in account number 0020368130401001 maintained in the name of Sunrise Capital Limited at Sunrise Bank Limited. SRBL has announced 15% bonus shares to its shareholders from the profit it had earned in the FY 2073/74. After the adjustment of the rights and 15% bonus shares, the bank’s total paid-up capital will reach to Rs 8.14 arba from existing Rs 5.45 arba. SRBL has earned Rs 1.18 arba net profit in the fourth quarter in the fiscal year 2073/74. Its last traded price stood at Rs 337 as on September 20, 2017. Likewise, Kamana Sewa Bikas Bank Limited is re-auctioning its unclaimed 45,487.60 units right shares to the general public from today (Ashwin 8, 2074). It is selling 18,367.26 units ordinary shares and 27,120.34 units promoter shares after the right shares issued from Ashwin 8 to Ashwin 22, 2074 were not fully subscribed by its shareholders in the previous auction. It had offered right shares in the ratio of 1:0.3. The auction will last till Ashwin 22, 2074. The bid will open to conclude the auction on Ashwin 25, 2074 at 10 AM at NIBL Capital Markets Limited. 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 shares and the shares applied for should be a multiple of 10 for ordinary shares and for promoter, minimum of 1000 units of shares is compulsory. NIBL Capital Markets Limited is the issue manager for this auction. The development bank has urged interested bidders to submit their bids within banking hour till Bhadra 18, 2074 at NIBL Capital Markets Limited, Lazimpat, Kathmandu or also in bank’s head office located at Pokhara, Lekhnath – 8. The investors applying for the auction can deposit the bid amount in the account number 0124524616107019 maintained in the name of NIBL Capital Markets Limited at Kumari Bank, Putalisadak. Kamana Sewa Bikas Bank Limited is the merged entity between Pokhara based Kamana Bikas Bank Limited (KMBL) and Butwal based Sewa Bikas Bank Limited (SEWA). After their merger, the merged entity will have a paid up capital of Rs 2.06 arba. As per NRB’s directive for all national level development banks to increase their paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74, the merged bank will need to issue a further capital hike of around Rs 44 crore (around 21.50%). Kamana has earned net profit of Rs 17.65 crore in the fourth quarter of the FY 2073/74 and in the same period SEWA has earned Rs 17.28 crore. KSBBL's last traded price (LTP) stood at Rs 214 as of last trading day.