February 19, 2019 | Investopaper
Global IME Bank Limited is going to issue a debenture named ‘10.25% Global IME Bank Debenture 2080/81’ from 15th of Falgun, 2075. The bank will issue 6 lakh units of the debenture to the general public. The price of each unit of the debenture is Rs. 1000. The maturity period is 5 years while the interest rate is 10.25% payable semi-annually.
5% of total public issue i.e. 30.000 units were reserved for mutual funds. However, Mutual funds were unenthusiastic to invest in the debenture. Only 3000 units were subscribed by mutual funds. Remaining unsubscribed 27,000 units will be issued to the general public. So, the general public will participate in 5.97 lakh units of debenture of Global IME Bank worth Rs. 59.70 crores. Investors can apply for a minimum of 25 units and a maximum of 75,000 units.
The debenture issue will remain open for 4 days until 19th of Falgun. If the debenture is not fully subscribed till that period, then the issue will continue till 14th of Chaitra, 2075
NIBL Ace capital is the issue manager for the debenture.