"8.5% Laxmi Bank Debenture 2088" Closing Today
Tue, Jul 20, 2021 10:55 AM on Latest, Bonds & Debentures,
Laxmi Bank Limited is closing the debenture issue of the "8.5% Laxmi Bank Debenture 2088" today. The issue opened on 28th Ashar and was supposed to close on 31st Ashar, 2078. Since the issue was not fully subscribed by the early closing date, the deadline could be extended till Shrawan 11. However, the issue manager has decided to close the debenture issue today.
20,00,000 units are issued at a par value of Rs.1000 per unit. 8 lakh units are issued to the general public while 12 lakh units will be subscribed via private placement. The quota for the general public also includes a 5% allocation for mutual funds. Investors can apply for a minimum of 25 units to a maximum of 1,00,000 units.
As the name suggests, the "8.5% Laxmi Bank Debenture 2088" has a maturity period of 10 years and will mature in the year 2088 BS. The debenture will yield an annual return of 8.5% to unitholders.
