Narayani Development Bank Puts 621,606 Unsold Rights Shares Up for Auction, Applications Open From Tomorrow

Narayani Development Bank has announced that it is auctioning 621,606 units of unsold rights shares. According to the notice published on Wednesday, 603,162 founder shares and 18,444 public shares remained unsubscribed during the rights issue, and the bank has now moved them to the auction process.

The minimum bid price has been set at Rs. 100 per share, and interested applicants can submit their bids from tomorrow (Mangsir 11, Thursday) until Mangsir 25.

Bid application forms will be available at the following branches of Global IME Capital:

• Naxal, Kathmandu

• Biratnagar

• Adarshnagar

• Birgunj

• Hetauda

• Narayangadh

• New Road, Kathmandu

• Pokhara

• Butwal

• Surkhet

• Dhangadhi

Applicants may also submit the completed bid forms at these same locations, the bank said.

Although the minimum price is fixed, bidders must quote their own bid rate, and shares will be allotted to the highest bidders. This auction presents a valuable opportunity for investors looking to acquire shares at competitive rates.