Laxmi Sunrise Bank Limited has announced the issuance of its Rs 3 billion ‘7% Laxmi Sunrise Debenture 2092’, with the public offering scheduled to open on Shrawan 14.

The bank will issue 3 million debenture units with a face value of Rs 1,000 each, raising a total of Rs 3 billion through the issuance.

Of the total issue, 1.8 million units (60%) will be placed through private placement, while the remaining 1.2 million units (40%) will be offered to the general public.

Out of the public issue, 60,000 units, representing 5% of the public allocation, have been reserved for mutual funds, while the remaining 1.14 million units will be available to individual investors.

The debenture has a 10-year maturity period and offers a fixed annual coupon rate of 7%, providing investors with predictable interest income throughout the investment period.

Applications can be submitted through the C-ASBA system via participating banks, financial institutions, and their designated branches.

The issue is scheduled to close on Shrawan 19 if fully subscribed. If the required subscription is not received, the application period will remain open until Shrawan 28.

Investors may apply for a minimum of 25 units and up to the total number of units available under the public offering.