Global IME Bank Rs 1.5 billion“10.25% Global IME Bank Debenture” opens from today; 5.97 lakh units reserved for the general public

Global IME Bank Limited (GBIME) is issuing debenture scheme “Global IME Bank Debenture” with 10.25% into the market. The 15 lakh unit debentures that will mature in 5 years will be floated for the interested investors from today.

General public will be able to apply for 5,97,000 unit debentures, 3000 units for mutual funds and remaining 9 lakh units (60%) for institutional investors.

The general public can apply for minimum 25 units to maximum 75 thousand unit debentures where the per unit cost stands at Rs 1000. The earliest closing date for the issue is set at Falgun 19, 2075 which can be extended till Chaitra 14.

As a perk of their investment, investors will receive the highest interest i.e. 10.25% semi-annually which will be paid to them from all the branches of the bank. The interested investors can submit their applications from all the branches of the bank as well as from any ASBA member institutions.

Earlier, NIC Asia Bank had issued Rs 4 arba worth debenture with 10% interest on semiannually basis. Out of Rs 160 crores reserved for the general public, the bank was able to collect approx. Rs 12 crore in one-month time period of the issue.