ICFC Finance to Float 3 Lakh Units of “ICFC Finance Debenture 2088”
July 10, 2024 | Investopaper
ICFC Finance Ltd. (ICFC) is going to issue a debenture named “9% ICFC Finance Debenture, 2088”.
For this purpose, the finance has submitted the application to the Securities Board of Nepal (SEBON) on Ashad 18, 2081 BS seeking approval for the issuance of the debenture.
If approved by SEBON, ICFC Finance will float 3 lakh units debenture at a face value of Rs 1,000. Hence, the total debenture issue amounts to Rs 30 crores.
Nepal Rastra Bank, the regulatory body for the bank and financial institutions in Nepal, has given the permission to the company.
Kumari Capital Limited is the issue manager for the right offering.
Out of the total issue, the finance will sell 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.
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