A list of the bidders for the auction of Excel Development Bank Limited’s ordinary shares has been published by the bank.
An auction was held from 29th Mangsir to 8th Poush to sell the portion of the rights offered that had not been claimed. Stock was auctioned off for a total of 27,257,4000 shares Participants in the auction included individuals and organizations of various sizes and shapes.
The auction included a minimum bid rate of Rs. 100, which was the starting point for bidding. There was no maximum bid quantity for the shares, despite the fact that a minimum bid amount of 100 units was required. Despite the fact that bidders were permitted to offer for the full issue, they were required to adhere to the Nepal Rastra Bank’s rule that they could not bid for more shares than the specified amount per business.
The auction manager has been named as NIBL Ace Capital. The cut-off rate for ordinary shares, according to the auction manager, is Rs. 456.78. The shares have been awarded to bidders who submitted bids at or above the cut-off rate. On Poush 15, bids were accepted.