Sindu Bikas Bank to reauction its unsold 5.35 lakh unit promoter right shares; Bidders can apply for minimum 1,000 units from Jestha 11

Sindu Bikas Bank Limited (SINDU) has published a notice regarding auction of its unsold promoter right shares. The auction for 5,35,301.40 unit shares will begin from Jestha 11 till Jestha 27, 2075.

NIBL Ace Capital has been appointed as the issue manager for the auction.

The interested bidders can apply for minimum 1,000 unit of shares. The minimum bid price has been set as Rs 100 i.e. the bidders should place their bids above Rs 100.

The development bank has urged the bidders to deposit the bid amount in A/C no 0010017384900001 of Kumari Bank Limited in the name of NIBLAce Capital Limited.

After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 47.19 crore from the existing Rs 26.21 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, SINDU will need to issue a further capital hike of around 6%.