Kumari Bank allots its 11% Kumari Bank Debenture 2089; bank’s Rs 3 arba worth debenture with 11% return gets oversubscribed

Kumari Bank has allotted its 11% Kumari Bank Debenture program 2089 on Ashoj 7, 2079. The bank had floated Rs 3 arba worth of debenture program with 10 years maturity period, 11% interest yield.

The bank had issued 12 lakh unit debenture for the individual investors including the mutual funds while 18 lakh units to the institutional investors under the private placement method. As per the available data, the issue had received applications for Rs 3.15 arba worth debenture, thereby making the issue oversubscribed. The bank has therefore proportionately allotted the available debentures units to the general public investors, per the media statement.

The bank currently has 199 branches, 53 branchless banking units, 34 extension counters and 195 ATM booths under its network all over the nation.