Deadline Extended for "6.25% Prime Bank Debenture 2093"; Issue to Close on Ashadh 30

Prime Commercial Bank Limited has extended the deadline for issuing 30,00,000 units of "6.25% Prime Bank Debenture 2093" to the general public and institutions until 30th Ashadh, 2083.

The debenture, with a maturity period of 10 years and a coupon rate of 6.25%, was open for application from the 16th Ashadh, 2083.

30,00,000 units will be issued at a par value of Rs. 1000 per unit. Out of the total units being issued, 60%, i.e., 18 lakh units, of the total issue will be subscribed via private placement, while the remaining 12 lakh units worth Rs. 1.22 Crore will be open for public issue; 5%, i.e., 60,000 units, will be allocated for mutual funds. It will raise a total of Rs 3 Arba from the issuance.

According to CDSC, 8,657 applicants have applied for 6,13,825 units worth Rs. 61.38 Crores so far. This data is as of yesterday.

Sanima Capital Limited is the issue manager. Investors can apply for a minimum of 25 units and a maximum of the total issued units.