1st May 2025, Kathmandu
Garima Bikas Bank Limited has announced the sale of 65,000 promoter shares. These shares are available only to the bank’s existing promoter shareholders. The decision was made during a board meeting held on 25 April.
Garima Bikas Promoter Share Offering
Interested promoter shareholders must apply by 4 June. Applications should be submitted at the bank’s central office in Lazimpat, Kathmandu. The application period is 35 days from the date of the public notice.
Priority to Existing Promoters
The bank is offering priority to its current promoter group. This aligns with its internal policy to allow existing promoters the chance to increase their ownership. The move also promotes continuity in leadership and governance.
Next Step if No Applications Received
If no applications are received within the deadline, the bank will take further steps. It will then offer the unsold shares to other individuals or institutions. This process will begin after the internal offering period ends.
Why the Sale Was Announced
The bank’s board decided to proceed with the sale after receiving requests from existing shareholders. The goal is to reallocate shares among promoters. It also helps maintain transparency and accountability in share transactions.
Where and How to Apply
Promoters who wish to buy the shares must apply in writing. Applications must be submitted directly to the Lazimpat office. The bank will provide more details about documents and payment during the application process.
Shareholders Encouraged to Act Fast
Garima Bikas Bank encourages its promoters to act within the set timeframe. Missing the deadline may result in the shares being offered to the public or other entities. Therefore, interested promoters should not delay.
Possible Sale to Public
If the shares remain unsold after the deadline, the bank may sell them to others. This could include public investors or institutional buyers. The process will follow banking regulations and necessary approvals.
Supports Internal Stability
This share sale supports the bank’s long-term stability. By allowing committed promoters to buy more shares, the bank ensures stronger internal control and strengthens investor confidence in the institution.
What’s Next
After the deadline, the bank will review all received applications, verify eligibility, and finalize transactions. If necessary, it will start the next phase of offering shares to external parties.
Contact for More Information
For more information, interested shareholders can contact the bank’s head office. The team at Lazimpat is available during working hours to assist with queries.
For more: Garima Bikas Promoter Share Offering