Bids Opened Today: Auction of First Microfinance (FMDBL)'s Promoter Shares Gets 3 Total Bids of Which 2 Turn Out Invalid

The bids received in the auction of promoter shares of First Microfinance (FMDBL) have been opened.

Global IME Bank auctioned 81,500 promoter shares of the microfinance company from 23rd Chaitra, 2077. The auction closed on 26th Baisakh, 2078, at the end of banking hours.

Individuals, existing promoters, companies, and institutions were all eligible to bid for the auction. The minimum bid rate was Rs. 300.

Auction manager Global IME Capital opened the bids today. Only 3 bidders have submitted bids for a total of 1,200 units. Two bidders have been disqualified because they bid lower than the minimum quantity of 1,000 units. Thus, there is only one bidder who has submitted a bid at the bare minimum quantity of 1,000 units. However, the auction manager is yet to perform the Fit and Proper test to decide whether the sole eligible bidder is allotted with the shares.