The deadline for the “8.75 percent Garima Debenture 2085” has been extended.

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The deadline for the public offering of the “8.75 percent Garima 2085” by Garima Bikas Bank Limited has been extended till March 31. The issue was first published on the 16th Mangsir and was scheduled to be closed today, on the 20th Mangsir. Due to the fact that the issue has not yet been fully subscribed, the deadline has been extended to the 1st of Poush, 2078.

10,00,000 units have been issued at a par value of Rs. 1000 unit, for a total of 10,000,000 units. The private placement portion of the issue will account for 60% of the total subscriptions, with the remaining 40% going to the public issue. funds have been allocated a total of 20,000 units, or 5% of the total number of units available in the public offering.

Investors can for a minimum of 25 units and a maximum of 1 lakh units in the scheme. It has been decided to use the NIBL Ace Capital as the issue manager. Meanwhile, ICRA Nepal has assigned a BBB-1 to this debenture, suggesting a moderate risk of failure to meet financial commitments.

The “8.75 percent Garima 2085” has a maturity duration of seven years and will generate an annual return of 8.75 percent over that time period, as indicated by its name.

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