Siddhartha Bank Limited has already closed the issue of Rs 3 Arba worth 8.50% SBL Debenture 2084. The debenture will have an 8.50% interest yield.
Out of a total of 30 lakh unit debentures, 12 lakh units were available for the general investors while the remaining 18 lakh units were sold through private placement. NMB Capital was been appointed as the issue manager for the issue.
According to the issue manager, the issue received only 1,093 applications from the general public for a total of 46,214 units. Meanwhile, it was heavily oversubscribed by institutions. 43 applications were received from the institutions for a total of 29,66,800 units. The unsubscribed units from the public will be allotted to the institutions. The issue manager will still refund a small number of applications from the institutions that will not get the applied amount.
Issuing a media statement, the bank has expressed its hearty gratitude to all investors who demonstrated their immense love and trust towards it and the product.