Mahalaxmi Bikas Bank appoints NIC ASIA Capital as issue manager for its 1 arba worth debenture; to provide 11% interest annually to the investors

Mahalaxmi Bikas Bank has appointed NIC ASIA Capital as issue manager to float its Rs 1 arba worth 11% Mahalaxmi Debenture to the general public.

The bank shall be providing 11% interest to the debenture holders. Among 10 lakh unit debenture, 6 lakh units will be sold via private placement method while 4 lakh units will be sold to the general public, as per the media statement.

The Bank currently serves its 103 branches with 6 lakh plus customers across the nation.