NIC Asia Bank Limited (NICA) has released an offering letter for the issuance of 50,00,000 units of ‘7% NIC Asia Debenture 2091’ for the general populace.
This debenture, which boasts a maturity period of 10 years and a coupon rate of 7%, will be available for applications from 25th Chaitra to 28th Chaitra, 2081. Should the issue fail to achieve total subscription, the cutoff date may be postponed to Baishakh 08, 2082.
A total of 50,00,000 units will be provided at a nominal value of Rs. 1000 each. Among these units, 60%, corresponding to 30 lakh units, will be allocated through private placements, while the leftover 20 lakh units valued at Rs. 2 Arba will be accessible for public subscription. Furthermore, 5%, or 1,00,000 units, will be designated for mutual funds. This initiative is set to generate a cumulative Rs 5 Arba from the issuance.
Prabhu Capital Limited serves as the issue manager. Investors have the opportunity to apply for a minimum of 25 units and a maximum of 25,00,000 units.
