Jyoti Bikas Bank Limited has published an offer letter to issue the "9% Jyoti Bikas Bank Bond 2087". The public issue will open on 20th Ashar and close on 23rd Ashar, 2078. If not subscribed by the early closing date, the issue can be extended till Shrawan 03.
15,00,000 units will be issued at a par value of Rs.1000 per unit. While 6 lakh units will be open to the general public, 9 lakh units will be subscribed via private placement. 5% of the public issue is reserved for mutual funds. Investors can apply for a minimum of 25 units and a maximum of 30,000 units.
As the name suggests, "9% Jyoti Bikas Bank Bond 2087" will mature in the year 2087 and yield an annual return of 9% to unitholders.