Deadline Extended for Public Issue of "8.5% Laxmi Bank Debenture 2088"
Thu, Jul 15, 2021 10:36 AM on Latest, Bonds & Debentures,
Laxmi Bank Limited has extended the deadline for the debenture issue of the "8.5% Laxmi Bank Debenture 2088." The issue opened on 28th Ashar and was supposed to close today, i.e. on 31st Ashar, 2078. Since the issue is not fully subscribed by the early closing date, the deadline has been 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.
