The existing promoters of Kumari Bank Limited (KBL) and United Ajod Insurance Limited (UAIL) are initiating auctions for their shares, providing an opportunity for interested shareholders to acquire stakes in these companies.
Shova Mishra, the existing promoter of KBL, is auctioning 5,99,121 units of shares to interested promoter shareholders starting today. Similarly, Prithee Tiwari and Srijana Joshi, promoters of UAIL, are auctioning 1,19,882 units of shares to promoter shareholders.
Interested individuals have 35 days from the date of publication of the notice, i.e., 14th Baishakh, 2081, to submit their bids. Bids can be placed at the central office of KBL in Tangal, Kathmandu, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. For UAIL, bids should be submitted at the corporate office located at CTC Mall, Sundhara, Kathmandu. The minimum bid rate for UAIL shares is Rs. 250.
If no bids are received from existing founder shareholders within the specified timeframe, the shares will be open for auction to the general public.
KBL closed at Rs. 134.00, and KBLPO had a last traded price (LTP) of Rs. 106.00. Meanwhile, UAIL closed at Rs. 522.00.