Public Issue of "10% Prime Debenture 2088" Subscribed Only 77.1%, Application Deadline Extended
Tue, Apr 5, 2022 12:26 PM on Latest, Bonds & Debentures,
Prime Commercial Bank Limited has extended the application deadline of the "10% Prime Debenture 2088." The debenture issue opened on 16th Chaitra and was supposed to conclude on 21st Chaitra, 2078. Since it has not been fully subscribed by the early closing date, the deadline has been extended till 30th Chaitra.
From the total issue of 25 lakh debenture units with Rs. 1,000 par value each, 10 lakh units have been issued to the general public while 15 lakh units will be subscribed via private placement. The public issue includes the 5% quota for mutual funds.
According to CDSC, 15,591 applicants have applied for a total of 7,71,022 units. Thus, the issue has only been subscribed to 77.1%.
As the name suggests, the 10% Prime Debenture 2088 has a maturity period of 10 years and will mature in the year 2088 BS. The debenture will yield a 10% annual return to unitholders.
RBB Merchant Banking has been appointed the issue manager. The regulatory board SEBON gave its nod of approval on Falgun 23, 2078.
