Swarnamahal Financial Services Ltd debenture oversubscribed

The Rs.100 million debenture Issue of Swarnamahal Financial Services Ltd, which opened on Wednesday was oversubscribed the same day itself. It is a subsidiary of E A P Edisiringhe Company and is involved in pawning,

leasing, hire purchase, factoring cum cheque discounting, medium term loans, fixed deposits and savings accounts. The company said the issue offered three types of debenture options to investors:
Type A – Fixed Interest Rate of 15.00% p.a. payable monthly; Type B – Fixed Interest Rate of 15.50%p.a. payable annually; and Type C – Floating Interest Rate payable annually.