Mahalaxmi Bikas Bank To Issue Rs. 1 Arba Worth "11% Mahalaxmi Debenture 2089" from 29th Chaitra

Mahalaxmi Bikas Bank Limited (MLBL) has published an offer letter to issue 10,00,000 units of "11% Mahalaxmi Debenture 2089" to the general public and institutions.

The debenture with a maturity period of 10 years and a coupon rate of 11% will be open for application from 29th Chaitra to 4th Baisakh, 2080. If the issue isn't fully subscribed, the deadline can be extended to Baisakh 13, 2080.

10 lakh units will be issued at a par value of Rs. 1000 per unit. Out of the total units being issued 60% i.e. 6 lakh units of the total issue will be subscribed via private placement while the remaining 4 lakh units worth Rs. 40 Crores will be open for public issue, 5% of which is also allocated for mutual funds. It will raise a total of Rs 1 Arba from the issuance.

NIC Asia Capital Limited is the issue manager. Investors can apply for a minimum of 25 units to a maximum of 4,00,000 units.