Global IME Bank Limited is issuing "8.50% Global IME Bank Debenture 2086/87" from today, i.e. 1st Chaitra. This debenture issue will close on the 4th of Chaitra. If the issue is not fully subscribed by then, the deadline can be extended to 16th Chaitra.
Of the 30 lakh total units, 18 lakh units will be subscribed via private placement. The remaining 12 lakh units will be issued to the public, 5% of which has been reserved for mutual funds. As the name suggests, the debenture will pay 8.5% yearly returns to its unitholders and will mature in the fiscal year 2087/87.
Investors can apply for a minimum of 25 units and a maximum of 10 lakh units. Century Capital Markets is the issue manager for this debenture issue.