Kathmandu. ICFC Finance Limited is set to issue “8% ICFC Finance Limited Debenture 2089” from February 26. The company is issuing debentures worth Rs 500 million with a maturity period of 7 years at 8% interest rate.

A total of 5,00,00,000 units of debentures will be issued at face value of Rs 1,000. Out of the offered, 3 Lakh units of debentures worth Rs 30,00,000 will be issued for the private while the remaining 20,00,00,000 units will be issued for the general public.

Out of the total offered shares, 5% i.e. 10,000 units have been reserved for the mutual funds. Applications can be place for minimum 25 units and maximum 2,00,000 units. Applications can be submitted till March 14 at the earliest and till March 9.

Kumari Capital Limited has been appointed as the issue manager for the IPO issuance. The interested investors can apply for the ASBA service from the participating banks and financial institutions and their designated branches through the C-ASBA system.

Care Ratings Nepal has assigned “Care NP Triple B Minus” issue rating to the company, indicating it has moderate risk on its ability to meet its financial obligations in a timely manner. The interest amount provided to the investors will be paid after the half-yearly period of each fiscal year by deducting tax.