"10 Sunrise debenture 2080" allotted on Baisakh 31, 2076; Bank raised Rs 1 arba worth of debt, 13.8 crore to public and 86.2 to private placement

Fri, May 17, 2019 11:05 AM on Bonds & Debentures, Latest, Stock Market,

Sunrise Bank (SRBL) had issued Rs 1 arba worth of debentures from Chaitra 20, 2075 to the individual as well as institutional investors. The debentures that cost Rs 1000 per unit will have a maturity period of 5 years which will have 10% interest yield every year and the interest shall be paid semi-annually.

Out of the total Rs 1 arba worth debentures, its 40% i.e. Rs 40 crore of the debentures have been reserved for public placement whereas the remaining Rs 60 crore worth of debentures will be issued for institutional investors/private placement.

The issue had closed on Baisakh 19, 2076. Prabhu Capital Limited is the issue manager for the debenture issue.

According to the notice published, the issue has been allotted on Baisakh 31, 2076. Although the issue was decided 40% to public and 60% to private, the allotment hasn't happened in the same proportion as the charm was lower among the general public. 

The issue received a total of 905 applications from general public applying for Rs 13 crore 85 lakh 75 thousand. Similarly, they received a total of 23 applications from private placement applying for Rs 86 crore 14 lakh 25 thousand.

Sunrise Bank with its paid up value of more than Rs 8 arba currently provides services from its 103 branches, 28 branchless banking units, 3 extension counters and 118 ATM outlets.