NIC Asia allots "10% NIC Asia Debenture 2085/86”; Issue worth Rs 4 arba largely undersubscribed

NIC Asia Bank Limited (NICA) has alloted “10% NIC Asia Debenture 2085/86” on Falgun 17, 2075. The issue for 40 lakh unit debenture was open from Magh 13, 2075 to Falgun 13, 2075.

Out of the 40 lakh units, the bank had 16 lakh units for the general public which includes 80,000 units issued for the mutual funds.

According to the notice, 1,099 applicants have been allotted 1,41,088 units from the general category. Similarly, in private placement, 26 institutional investors have been allotted 22,63,600 units.

The debenture will be providing 10% return on the investment which will be paid semi-annually.

Care Ratings Nepal had assigned “CARE-NP A” rating indicating low credit risk to the debenture.

With the issuance of the debenture, the total capital raised through debenture of NIC Asia bank would reach Rs 9.33 arba. However, the issue hasn't been fully subscribed.