Kumari Bank Closing Issue of ‘KBL Debenture 2090’ Today
October 30, 2023 | Investopaper
Kumari Bank Limited (KBL) is currently issuing a debenture named “KBL Debenture 2090”. The debenture offering is open from Karthik 2, 2080 BS.
The Bank is floating 50 lakh units debenture at a face value of Rs 1000. Hence, the total debenture issue amounts to Rs 5 Arba.
The debenture offering will close on Karthik 13, 2080 BS. Earlier, if fully subscribed, the issue was set to close on Karthik 12, 2080 BS. However, due to under-subscription until that period, the deadline for application was extended.
One can apply for a minimum of 25 units and a maximum of 5,00,000 units.
Out of the total issue, the bank will sell 30 lakh units debenture worth Rs. 300 crores through private placement. Likewise, the general public can apply for the remaining 20 lakh units that amount to Rs. 200 crores. Out of the public issue size of 20 lakh units, mutual funds will receive 5 percent or 100,000 units.
For this purpose, Securities Board Of Nepal (SEBON) has given the permission to the company on Ashwin 8, 2080 BS. The company had submitted the application to the board on Jestha 31, 2080 BS seeking approval for the debenture issuance.
The bank has appointed Nabil Investment Banking Limited as the issue and sales manager for the debenture offering.
‘KBL Debenture 2090’ will provide 10 percent interest to the investors. The maturing period is of 10 years. Hence, the bank will refund the principal amount in 2090 BS.
After the issuance of debenture, it will be listed and traded in Nepal Stock Exchange.
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