More than 96% of NMB Debentures and more than 2 Lakh units of GBIME Debentures remain unsubscribed; one issue closed while the other approaches closing date

NMB Bank Limited (NMB) has extended the issue of “10% NMB Debenture 2085” by 10 days till Chaitra 25, 2075. Earlier the issue closing date was fixed on Chaitra 14. The issue for 30 lakh units of debenture at Rs.1000 face value was opened since Falgun 30, 2075.

The bank is issuing 12 lakh units i.e. 40% for the general public while remaining 18 lakh units i.e. 60% of the issue will be for the private placement.

Siddhartha Capital Limited has been appointed as the issue manager for the debenture issuance. As per the issue manager, the debenture issue has received 352 applicants who have applied for total of 39,492 units till now. Still, more than 96% of the issue for the general public remains unsubscribed.

The debenture will be providing 10% return on the investment which will be paid semi-annually and this debenture matures in 10 years.

Interested applicants can place applications for minimum 25 units and maximum 12 lakh units for par value of Rs.1000.

The application can be placed form the branches of any financial institutions providing C ASBA facilities.

Already, NMB Bank Limited has Rs.50 Crore worth debenture in its portfolio.

Similarly, Global IME Bank Limited (GBIME) had closed the issue of “10.25% Global IME Bank Debenture 2080/81” on Chaitra 14, 2075 i.e. yesterday. This issue of 15 lakh units of debenture was opened since Falgun 15, 2075.

Out of the 15 lakh units, the bank was issuing 6 lakh units for the general public. Out of 30,000 units (5% of 6 lakh units) reserved for the mutual fund, however, only 3,000 units are subscribed by them; so remaining 597,000 units was issued to the general public.  With this debenture issue, the total debt capital (debentures) of Global IME Bank will be Rs.1.9 Arba.

NIBL Ace Capital has been appointed as the issue manager for the issue. As per the issue manager, from the general public side the issue has received applications from 1,454 applicants who have applied for a total of 385,486 units of debentures. Out of the total units issued to the general public, 211,514 units remain unsubscribed.

The debenture will be providing 10.25% return on the investment which will be paid semi-annually.

Interested applicants could place applications for minimum 25 units and maximum 75,000 units for par value of Rs.1000.

ICRA Nepal had assigned “ICRA LA Minus” rating indicating low credit risk to the debenture.