Gandaki Bikas Bank auctioning unclaimed right shares from 15th March; includes 2.22 lakh ordinary and 1.30 lakh promoter shares

Gandaki Bikas Bank has announced date to auction its unclaimed right shares. This includes 2,22,184.60 unit ordinary and 1,30,716.90 unit promoter shares. The auction will commence on 1st Chaitra, 2074. (15th March, 2018) and end on 8th Chaita,2074 (22nd March). 

Gandaki Bikas Bank had floated 46.09 lakh unit right shares at a ratio 4:1 from 7th Poush. The right issue closed on 11th Magh, 2074, where approx. 3.53 lakh (7.65%) shares were unsubscribed. Those shares will now be auctioned among general public. However, only existing promoters are eligible to bid for promoter shares.   

Prabhu Capital is managing the auction

Interested bidders can get the forms from Prabhu Capital, Kamaladi or stated branches of gandaki bikas bank  and prabhu bank outside the valley. Bidders can bid for a minimum of 100 units at a price of 100 or above. Payment procedure as prescribed in the form must be followed. 

Gandaki Bikas Bank is a national level development formed as a merger of Gandaki bikas bank and Fewa bikas bank.