Miteri Development Bank Limited (MDB) is currently undergoing a significant development as its existing promoter, Sunil Shrestha, has initiated the auction of 3,25,000 units of shares exclusively to existing promoter shareholders starting from today, the 29th of Falgun, 2080.
In this offering, Sunil Shrestha aims to sell the specified number of promoter shares to the existing promoter shareholders, and only individuals falling under this category are eligible to participate in the bidding process. The auction window extends for a period of 35 days from the date of the notice publication, concluding on the 29th of Falgun.
Interested shareholders are required to submit their bids either at the central office of Miteri Development Bank Limited, situated at Mahendrapath, Dharan, or at Prabhu Capital Limited, located in Kamaladi, Kathmandu. It’s important to note that if no bids are received from existing founder shareholders within the stipulated timeframe, the shares will subsequently be made available for auction to the general public.
As of the current update, MDB is listed with a Last Traded Price (LTP) of Rs. 397.10. Simultaneously, MDBPO, another class of shares associated with the bank, has an LTP of Rs. 217.00. These market values provide a snapshot of the current financial standing and investor sentiment surrounding Miteri Development Bank Limited and its associated securities.