Himalayan Capital Closing IPO of Its First Mutual Fund Scheme “Himalaya 80-20” on Bhadra 15

September 1, 2023 | Investopaper

Himalayan Capital Limited has launched its first mutual fund scheme named “Himalaya 80-20”. The company is currently issuing the units of the scheme from Shrawan 32, 2080 BS.

The public offering will close on Bhadra 15, 2080 BS. Earlier, if fully subscribed, the scheme offering was set to close on Bhadra 4, 2080 BS. However, due to under-subscription until that period, the deadline for application was extended.

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For this purpose, Securities Board of Nepal (SEBON) hadgiven the permission to the company on Ashad 19, 2080 BS. The fund manager had submitted the application to the board on Poush 12, 2079 BS.

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

The close-ended scheme “Himalaya 80-20” will operate under “Himalayan Mutual Fund”. The fund manager is planning to issue 10 crores units at a par value of Rs. 10. Hence, the total issue amounts to Rs. 100 crores.

Out of the total public issue, 15 percent or 1.5 crore units of the fund will be purchased by Himalayan Bank, the promoter bank of the mutual fund. Hence, the general public can participate in the remaining 8.5 crore units of the fund.

Interested investors can apply for a minimum of 100 units and a maximum of 1 crore units of the scheme.

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

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