Bhargav Bikas Bank to sell 7.53 lakh unclaimed right shares; auction to commence from Jestha 3rd

Bhargav Bikas Bank has published a notice regarding the auction of unsold right shares. The auction is said to commence on 3rd Jestha and end on 10th Jestha, 2075. This includes hefty 6,67,706 unit promoter shares and 85,664 unit ordinary shares.

NMB Capital will be managing the auction.

Interested bidders can bid for minimum 100 units at a price Rs 100 or more. However, only promoter can bid for promoter shares. Payment procedure should be as prescribed in the forms. 

Bhargav Bikas Bank had floated 80% right for the shareholders. The paid-up capital of the company will reach Rs 47.52 crores. The bank being a 3-region development bank, needs to have a paid-up capital of Rs 50 crores. Thus, bank needs 5% more to meet the paid-up requirement.