Almost 200 applicants from general public apply for 10% Laxmi Bank Debenture 2086; collection stands at Rs.1.01 Crore

Tue, Oct 22, 2019 5:10 PM on Bonds & Debentures, Latest,
Almost 200...

Laxmi Bank (LBL) is 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 has been extended till Kartik 22, 2076.

A total of 20 lakh units will be issued at a par price of Rs.1000 per unit. Out of the offered, 12 Lakh units are for the private placement while 8 Lakh units will be issued for the general public. Similarly, 5% or 40,000 units have been reserved for Mutual Funds.

Nabil Investment has been appointed as issue manager. As per the issue manager, a total of 191 applicants from the general public have applied for 10,138 units till today. The collection stood at Rs.1.01 Crore.

The interest individuals can apply for a minimum of 25 units or maximum of 1 lakh units.

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.