Narayani Development Bank to Auction 6,03,162 Promoter Right Shares and 18,444 Ordinary Right Shares

Narayani Development Bank Limited has announced that it will be auctioning its unclaimed rights shares after the earlier rights issue failed to attract sufficient applications from both promoter and ordinary shareholders. The auction will be conducted through a sealed-bid (closed bidding) process.

The bank had opened its rights issue from 2082/06/02 to 2082/07/09, but a total of 603,162 promoter right shares and 18,444 ordinary right shares remained unsubscribed. As per the provisions stated in the Unified Directive 2081 issued by Nepal Rastra Bank and the Securities Issuance and Allotment Guidelines 2074 (Directive No. 15), the bank’s Board of Directors decided to sell these shares through an open auction.

Auction Timeline: Mangsir 11 to Mangsir 25, 2082

The sealed-bid submission period will begin on Mangsir 11, 2082 and will close on Mangsir 25, 2082.
Interested individuals, companies, or institutions can participate by submitting sealed bids specifying the rate per share they are willing to pay.

Auction forms will be available at the designated collection centers, and all bids must be submitted within the prescribed deadline. Late submissions will not be entertained.

Auction Form Distribution and Submission Centers

Sealed-bid forms can be obtained and submitted at the following centers:

1. Global IME Capital Limited, Naxal, Kathmandu

2. Global IME Bank Branches at:

   • Biratnagar

   • Adarshnagar, Birgunj

   • Hetauda

   • Narayangadh

   • New Road, Pokhara

   • Butwal–Milan Chowk

   • Surkhet

   • Dhangadhi

These centers will accept fully filled and sealed bid applications during office hours.

Details of Shares Available for Auction

• Promoter Shares: 603,162 units

• Ordinary Shares: 18,444 units

These shares will be sold to the highest bidders under the sealed-bid auction system. Interested applicants must comply with all the terms and conditions mentioned in the auction notice.

Bank’s Statement and Regulatory Compliance

Narayani Development Bank, licensed by Nepal Rastra Bank as a Class ‘B’ development bank, stated that the auction is being conducted strictly in accordance with banking and securities regulations. The bank emphasized that only bids received within the deadline will be considered valid.

The rights issue originally aimed to increase the bank’s capital base, but with a large portion remaining unsubscribed, the bank opted for auction to ensure full allotment as per regulatory requirements.