Global IME Bank's "11.25% Global IME Bank Debenture 2084/85" to Close Today; Minimum Applications Can Be Placed for 25 Units

Global IME Bank Limited is closing the public issue of the "11.25% Global IME Bank Debenture 2084/85" from today i.e. on 5th Falgun.

The issue had opened on 29th Magh and was supposed to close on 3rd Falgun. However, the bank had previously announced in a notice that the deadline would be extended till Falgun 14, however, in the case of the subscription will close as it gets subscribed. The offering is currently oversubscribed, so the company will close its issue from today through the end of the banking hours.

50 lakh units are being issued at a par value of Rs.1000 per unit. Out of the total units being issued 30 lakh units of the total issue will be subscribed via private placement while the remaining 20 lakh units worth Rs. 2 Arba is open for public issue, 5% of which is also allocated for mutual funds. It will raise a total of Rs 5 arba from the issuance.

Sunrise Capital Limited is appointed as the issue manager. Investors can apply for a minimum of 25 units to a maximum of 10,00,000 units.

As the name suggests, the "11.25% Global IME Bank Debenture 2084/85" has a maturity period of 5 years and will yield 11.25% annual returns to unit holders till its date of maturity.

Closing Notice