Garima Capital to Launch its First Mutual Fund Scheme ‘Garima Samriddhi Yojana’

February 14, 2024 | Investopaper

Garima Capital Limited is in the process of launching its first mutual fund scheme named “Garima Samriddhi Yojana”. For this purpose, the fund manager has submitted the application to the Securities Board of Nepal (SEBON) on Magh 28, 2080 BS seeking permission to float the units to the public.

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The close-ended scheme “Garima Samriddhi Yojana” will operate under the fund “Garima Mutual Fund”. The fund is planning to issue 10 crores units at a par value of Rs. 10. Hence, the total issue amounts to Rs. 100 crores.

Only after the permission from the regulatory body SEBON, the mutual fund scheme will be floated to the general public.

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, and Garima Capital Limited, the fund manager of the scheme.

After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.


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