October 18, 2022 | Investopaper
Kumari Capital Limited is in the process of launching a new mutual fund scheme named “Kumari Sabal Yojana”. For this purpose, the fund manager has already submitted the application to the Securities Board of Nepal (SEBON) on Bhadra 29, 2079 BS.
The close-ended scheme “Kumari Sabal Yojana” will operate under “Kumari Samuhik Lagani Kosh”. 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.
Only after the permission from the regulatory body SEBON, the mutual fund scheme will sell the units to the general public.
Out of the total public issue, 15 percent or 1.5 crore units of the fund will be purchased by Kumari Bank, the promoter bank of the mutual fund and Kumari Capital Limited, the fund manager.
After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.