Kathmandu. Narayani Development Bank Limited is going to sell 65,628 units of promoter shares. The bank had earlier issued a public notice on various dates for the promoter shareholders and invited applications for the purchase of shares, but after no application was received within the stipulated period, the shares will be sold to other interested and eligible persons, institutions and bodies.

The bank has issued a public notice for the third time on September 11, 2083, inviting applications from eligible individuals and organizations interested in purchasing promoter shares. As per the directives issued by Nepal Rastra Bank and the prevailing legal provisions, eligible applicants should apply to reach the central office of the bank within 15 days from the date of publication of the notice.

The bank has said that the application should clearly mention the number of shares it wants to buy and the proposed purchase price. In addition, the necessary documents to prove that the promoter is eligible to buy the shares will also have to be submitted along with the application.

According to the bank, if applications are received from more than one eligible applicant, the process of sale and allotment of shares will be forwarded as per the prevailing laws, directives of Nepal Rastra Bank and decision of the bank.

The bank has clarified that the sale of shares will not be considered on receipt of applications. The entire process of sale and transfer of shares will be completed only after the prevailing laws, directives of Nepal Rastra Bank and related regulatory provisions are fulfilled.