February 17, 2023 | Investopaper
Global IME Bank Limited (GBIME) is currently issuing a debenture named “Global IME Bank Debenture 2084/85”. The debenture offering is open from Magh 29, 2079 BS.
The debenture issue will close on Falgun 5, 2079 BS due to full subscription. Previously, the issue was set to close on Falgun 3, 2079 BS. However, due to under-subcription until that period, the deadline for application was extended.
The Bank is selling 50 lakh units debenture. The par value of each unit of debenture is Rs 1,000. Hence, the total debenture issue is worth Rs 5 Arba.
Interested investors can apply for a minimum of 25 units and a maximum of 10,00,000 units.
Securities Board Of Nepal (SEBON) had given permission to the bank for the debenture issuance on Poush 28, 2079 BS. The bank had submitted the application to the board on Karthik 20, 2079 BS. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.
Out of the total issue, the bank is selling 30 lakh units debenture worth Rs. 3 Arba through private placement. Likewise, the bank is issuing 20 lakh units debentures to the general public. Thus, the total public issue amounts to Rs. 2 Arba. Out of which, the mutual funds have been allotted 100,000 units.
The debenture will provide 11.25 percent interest per annum to the investors. The maturity period of the debenture is 5 years. Hence, the bank will refund the principal amount in 2084 BS.
The bank has appointed Sunrise Capital Limited as the issue and sales manager.