Kanchan Development Bank to auction unclaimed 14,565 unit shares at Rs 100 & above from Mangsir 15; LTP at Rs 227

Kanchan Development Bank Limited (KADBL) will be auctioning its unclaimed 14,565 units right shares to the general public from Mangsir 15, 2074 It is selling 14,565 units ordinary shares after the right shares issued on Ashad 30 to Bhadra 1, 2074 were not fully subscribed by its shareholders. It offered right shares in the ratio of 10:3 (30 %). Around 1.40% of the total issue was unsubscribed. The auction will last till Mangsir 26, 2074. 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 unit for ordinary shares. Global IME Capital Limited is the issue manager for this auction. The development bank has urged interested bidders to submit their bids within banking hour till Mangsir 26, 2074 at Global IME Capital Limited, Jamal, Kathmandu. designated branches of Global IME Bank and Kanchan Development Bank Limited. The investors applying for the auction can deposit the bid amount in the account number 0124524616627012 maintained in the name of GICL-Kanchan Right BTI 2074 at Global IME Bank Limited. Also applicants can submit their application through Good for Payment Cheque. KADBL current paid up capital remains at Rs 34.65 crore. After the issuance of 30% right, its paid up capital reached Rs 45.04 crore. Recently, KADBL has announced 16.03 percent bonus share to its shareholders from the profit it earned in the fiscal year 2073/74. After issuance of 16.03% bonus, its paid up capital will reach Rs 52.24 crore. As per NRB’s directive for all 1-3 district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, KADBL will meet the capital requirement. It had earned Rs 1.01 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 227 as of last trading day. Click here to see announcement: