Civil Bank Auction Update : 2800 forms opened till 5 pm

The auction opening program of civil bank is being conducted in Hira banquet , New Baneshwor. The program started at 9:30 in the morning. 

As of 5 pm, 2800 forms out of 4440 forms were opened. As per the official, it may take a couple of hours more for the program to conclude.  

Applicants had bid for price as high as Rs 180 whereas numerous forms with price Rs 100 were received. Good participation of both individuals and institutions were noticed. "There is high chance that people bidding below Rs 130 will go empty handed" says Mr. Nepal , a person attending the program. 

As per the data, Insurance as well as investment companies were seen actively participating. Where newly started Insurance company Sun Life had bid for 50,000 units at Rs 137 , Prabhu Life Insurance applied for 41000 units at Rs 121. Chartered Investment gave an application for 10,000 units at a price Rs 135. Likewise, Samriddhi Capital applied for 20,000 units at Rs 131.  There were also some individuals who applied for units as high as 1 lakh .

The Preliminary Cut-off for the auction will be known probably by 8 PM , when the bid opening program concludes.