Kumari Capital to Close Issue of ‘Kumari Sabal Yojana’ from Falgun 13
February 23, 2024 | Investopaper
Kumari Capital Limited has launched a new mutual fund scheme named “Kumari Sabal Yojana”. The fund manager is currently issuing 10 crores units to the public from Magh 28, 2080 BS. At a par value of Rs. 10, the total issue amounts to Rs. 100 crores.
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The public offering will close on Falgun 13, 2080 BS. Earlier, if fully subscribed, the scheme offering was set to close on Falgun 2, 2080 BS. However, due to under-subscription until that period, the deadline for application was extended.
Interested investors can apply for a minimum of 100 units and a maximum of 1 crore units.
The close-ended scheme “Kumari Sabal Yojana” will operate under “Kumari Samuhik Lagani Kosh”. Out of the total public issue, 15 percent or 1.5 crore units of the fund will be purchased by Kumari Bank (14%), the promoter bank of the mutual fund and Kumari Capital Limited (1%), the fund manager. Hence, the general public can participate in the remaining 8.5 crore units that amounts to Rs. 85 crores.
Securities Board of Nepal (SEBON) had given permission to the company on Poush 1, 2080 BS. The fund manager had submitted the application to the board on Bhadra 29, 2079 BS seeking permission to float the units to the general public. Only after the approval from the regulatory body SEBON, the units of the mutual fund scheme can be sold to the general public.
After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.
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