ICFC Finance Closing Issue of “ICFC Finance Debenture 2088” on Magh 13
January 26, 2025 | Investopaper
ICFC Finance Ltd. (ICFC) is currently issuing a debenture named “9% ICFC Finance Debenture, 2088”. The debenture offering is open from Magh 9, 2081 BS.
Due to the over-subscription, the issue will close on Magh 13, 2081 BS.
The Finance company is floating 3 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 30 crores.
Out of the total issue, the finance is selling 1.8 lakh units debenture worth Rs. 18 crores through private placement. Likewise, the general public can apply for the remaining 1.2 lakh units that amount to Rs. 12 crores.
The debenture will provide 9 percent interest per annum to the investors. The maturity period of the debenture is 7 years. Hence, the finance will refund the principal amount in 2088 BS.
Interested investors can apply for a minimum of 25 units and a maximum of 1,20,000 units.
For this purpose, Securities Board of Nepal (SEBON) gave permission to the company on Poush 16, 2081 BS. The finance company had submitted the application to the board on Ashad 18, 2081 BS seeking approval for the issuance of the debenture.
Nepal Rastra Bank, the regulatory body for the bank and financial institutions in Nepal, has also already given the permission to the company.
Kumari Capital Limited is the issue manager for the right offering.
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