Nepal Investment Mega Bank Closing Issue of Debenture Worth Rs. 4.04 Arba from Today

February 16, 2024 | Investopaper

Nepal Investment Mega Bank Limited (NIMB) is currently issuing a debenture named ’10 Yrs, 10%, NIMB Debenture 2090′ from Falgun 1, 2080 BS. The bank is planning to sell 40.4 lakh units debenture. The par value of each unit of debenture is Rs 1,000. Hence, the total debenture issue is worth Rs 4.04 Arba.

Due to full-subscription, the debenture offering will close on Falgun 4, 2080 BS.

Out of the total issue, the bank is selling 24.24 lakh units of debenture worth Rs. 2.42 Arba through private placement. Likewise, the bank is issuing 16.16 lakh units debentures to the general public (including 80,800 units reserved for the mutual fund schemes). Thus, the total public issue amounts to Rs. 1.61 Arba.

For this purpose, Securities Board of Nepal (SEBON) gave permission to the bank on Poush 2, 2080 BS. The bank had submitted the application to the board on Mangsir 12, 2079 BS seeking permission for debenture issuance. Only after the permission from the regulatory body, the bank can sell the debenture to the general public.

The debenture will provide 10 percent interest per annum to the investors. The maturity period of the debenture is 10 years. Hence, the bank will refund the principal amount in 2090 BS.

The company has appointed Prabhu Capital Limited as the issue and sales manager. An agreement has been reached between the company and Prabhu Capital on this regard. The agreement was signed by Mahesh Sharma Dhakal, Deputy Chief Executive Officer Of Nepal Investment Mega Bank Limited and Ashish Gauchan, CEO of Prabhu Capital Limited.


Suggested Readings:

List Of Upcoming Debentures In Nepal

Investopaper

Investopaper is a financial website which provides news, articles, data, and reports related to business, finance and economics.

Leave a Reply

Your email address will not be published.

error: Content is protected !!