Sanima Bank Starts 8.5% Debenture Issue From Today

Dec 16, 2020 11:21 AM Merolagani

Sanima Bank (SANIMA) has started issuing 8.50 percent debenture worth Rs 4 billion from December 16.

The bank is issuing 4 million units of debenture at a face value of Rs 1,000.

Out of the total offered debentures, 2.4 million units will be privately financed while 1.6 million are being issued to the general public.

Out of the total units allocated to general public, 5 percent i.e. 80,000 units have been allocated to mutual funds. The general public can apply for the remaining 1,520,000 units of debentures.

The interested investors can apply for a minimum of 25 and maximum of 1.6 million units through C-ASBA approved BFIs. The debenture will yield 8.5 percent interest and will mature in 10 years period.

The bank has appointed NIC Asia Capital as its issue manager. The issue will close early on December 20 and lately on December 30.

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