Deadline Extended for the Auction of 296,000 Units Promoter Share of Kumari Bank till Chaitra 06

Kumari Bank Limited (KBL) has extended the deadline for the auction of 2,96,000 units of promoter share till Chaitra 6, 2079.

The existing promoters of KBL have been selling their 2,96,000 units promoter share in an auction. The auction was opened from 16th Falgun and was supposed to conclude tomorrow i.e. on 30th Falgun, 2079. However, since the auction manager didn't receive enough applications, the auction has been extended till Chaitra 6.

Individual investors, companies, and institutions are all eligible to bid in an auction. Rs. 119 is the minimum bid rate. The minimum bid quantity for promoters’ shares is 10,000 units. Although bidders can bid for the entirety of the issue, they are required to abide by the Nepal Rastra Bank's rule not to exceed the specified quantity of shares per entity.

Kumari Capital Limited is the auction manager. Bids will open at the premises of the auction manager on Chaitra 01 starting at 10 am that day.