Laxmi Bank (LBL) was issuing “10% Laxmi Bank Debenture 2086” worth Rs.2 Arba with a maturity period of 10 years. The issue was open from Ashwin 23, 2076 till Ashwin 27, 2076. However, due to under subscription, the issue had been extended till Kartik 22, 2076. The company has published a notice today stating that the issue will be closed today after banking hours.
A total of 20 lakh units had been issued at a par price of Rs.1000 per unit. Out of the offered, 12 Lakh units were for the private placement while 8 Lakh units were for the general public. Similarly, 5% or 40,000 units had been reserved for Mutual Funds.
Nabil Investment has been appointed as the issue manager. As per the issue manager, a total of 331 applicants from the general public have applied for 26,021 units till 3 PM yesterday. The collection stood at Rs.2.60 Crore.
ICRA Nepal Limited has reaffirmed a [ICRANP-IR] BBB+ Issuer Rating of Laxmi Bank Limited. This rating is considered to have a moderate degree of safety regarding timely servicing of financial obligations. Entities with this rating carry moderate credit risk.
Currently, 10.25% Sunrise debenture 2083 and 10.25% Prabhu bank debenture 2086 are open for application.