Public Issue of "8.5% Laxmi Bank Debenture 2088" to Open on 28 Ashar
Sun, Jul 4, 2021 10:07 AM on Bonds & Debentures, Latest,
Laxmi Bank Limited has published an offer letter to issue the "8.5% Laxmi Bank Debenture 2088." The issue will open on 28th Ashar and close on 31st Ashar, 2078. If not subscribed by the early closing date, the deadline can be extended till Shrawan 11.
20,00,000 units will be issued at a par value of Rs.1000 per unit. 8 lakh units will be 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.
