. Laxmi Sunrise Bank Limited is issuing 7% Laxmi Sunrise Debenture 2092 for a debenture worth Rs 3 billion.

The bank is issuing 30 lakh units of debentures at a face value of Rs 1,0

00 each. The debenture with a maturity period of 10 years will yield 7 percent interest rate per annum.

Out of the total 3

0 Lakh units, 18 Lakh units will be issued for individuals while the remaining 12 Lakh units will be issued for the general public. Out of the total offered shares, 5% i. e. 60,000 units have been reserved for mutual funds.

The interested investors can apply for the C-ASBA service through the participating banks and financial institutions and their branches.

Applications can be place for minimum 25 units and maximum of all issued units.

According to the bank, the issuance will close after the banking hours on August 1

9. If there are not enough applications within the said period, the sale period will be extended till August 12.

Machhapuchchhre Capital Limited has been appointed as the issue manager for the IPO issuance.