Bids Received in Auction of KBL Promoter Shares Opened; What is the Cut-Off Rates?

Kumari Capital Limited has opened the bids received in the auction of 5,30,000 unit promoter shares of Kumari Bank Limited (KBL) on Kartik 21. Bids were opened at the premises of the Kumari Capital, Naxal, Kathmandu, starting at 10 a.m.

The auction opened on 14th Kartik and concluded on 20th Kartik, 2080 at the end of banking hours.  5,30,000 unit promoter shares of Kumari Bank Limited (KBL) were auctioned. Individuals, institutions, and companies were all eligible to bid for the auction.

Rs. 101 was the minimum bid rate for the auction of promoter shares of KBL. While the minimum bid quantity was 10,000 units and there was no upper limit. However, bidders were required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.

According to the auction manager, the cut-off rate for KBL shares was maintained at Rs. 101. Only 10,000 units were sold out of total 5,30,000 units.