Shangrila Development Bank receives green signal from SEBON to float its 7.50 lakh unit debentures; 10 years maturity debenture to be floated within month of Jestha

Shangri-la Development Bank has received final approval from SEBON to float its 7.5 lakh unit Shangrila Bank Debenture 2087 to the investor community.

Out of the total debentures, 4.50 lakh unit debentures worth Rs 45 crore will be floated in private placement procedure while 3 lakh unit debentures worth Rs 30 crore will be floated for general investors and for mutual funds.

The bank has already appointed NIBL Ace Capital as issue manager for this issue process, as per the media statement.

The development bank currently has 95 branches and 31 ATM booths under its network.