NIC Asia Bank Initiates Auction for Promoter Shares of Nepal Infrastructure Bank From Today

NIC Asia Bank Limited (NICA) is selling the promoter shares of Nepal Infrastructure Bank Limited (NIFRA) in the auction from today i.e. 10th Ashadh to 17th Ashadh, 2081.

10,00,000 unit promoter shares of NIFRA are being auctioned. Qualified interested promoter shareholders, general public/company, and institutions are eligible to bid in the NIFRA auction. Rs. 101 is the minimum bid rate and the minimum bid quantity for promoters’ shares is 10,000 units. Although bidders can bid for the entire issue, they must abide by the Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.

NIC Asia Capital is the auction manager.

As of writing, NIFRA has an LTP of Rs. 192.00.