Sindhu Bikas Bank to sell 5.35 lakh promoter shares; auction commencing from 11th Jestha

Sindhu Bikas Bank has published a notice regarding the auction of unclaimed right shares. 

As per the notice, the company will sell 5,35,301.40 unit shares from 11th Jestha to 27th Jestha. Any general public can apply for the auction.

Interested bidders can bid for minimum 1000 units at a price Rs 100 or above. NIBL ACE Capital has been appointed as the issue manager. Interested bidders can submit their bid in NIBL ACE Capital, Lazimpat or its branches. The bid can also be submitted outside the valley at branches of Nepal Investment Bank in Surkhet, Narayanghat, Nepalgunj and Dhangadi. 

Sindhu Bikas Bank had floated a right from 18th Bhadra, 2074 to 5th Karthik. The unsold shares are now being auctioned among general public. 

The company's capital will hike to Rs 47.19 crores after the capitalization of right shares. The bank will further need to hike its capital by 6% to meet the paid-up requirement.