Garima Capital Closing IPO of its First Mutual Fund Scheme ‘Garima Samriddhi Yojana’ from Today
December 26, 2024 | Investopaper
Garima Capital Limited has launched its first mutual fund scheme named “Garima Samriddhi Yojana”. The fund is currently issuing 10 crores units at a par value of Rs. 10 from Poush 7, 2081 BS. Hence, the total issue amounts to Rs. 100 crores.
Due to the full subscription of the units, the scheme offering will close on Poush 11, 2081 BS.
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Securities Board of Nepal (SEBON) granted permission to the company on Mangsir 5, 2081 BS. The fund manager had submitted the application to the board on Magh 28, 2080 BS seeking permission to float the units to the public.
The close-ended scheme “Garima Samriddhi Yojana” will operate under the fund “Garima Mutual Fund”.
Out of the total public issue, 15 percent or 1.5 crore units of the fund will be purchased by Garima Bikas Bank, the promoter bank of the mutual fund (14%), and Garima Capital Limited, the fund manager of the scheme (1%). Hence, the general public can participate in the remaining 8.5 crore units.
Interested investors can apply for a minimum of 100 units and a maximum of 100,00,000 units.
After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.
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