Kumari Capital Closing IPO Of Its Open-Ended Scheme “Kumari Sunaulo Yojana” From Chaitra 23
April 6, 2023 | Investopaper
Kumari Capital Limited has launched a new mutual fund scheme named “Kumari Sunaulo Yojana”. The fund manager is currently issuing 10 crores units at a par value of Rs. 10. Hence, the total issue amounts to Rs. 100 crores.
The public offering is open from Chaitra 9, 2079 BS. If fully subscribed, the issue was set to close on Chaitra 13, 2079 BS. However, due to under-subscription until that period, the deadline for application has extended until Chaitra 23, 2079 BS.
Out of the the total units, 5 crore units will be sold through public issue, while the remaining 5 crore units will be opened for purchase and sale through the distributor designated by the fund manager as per the provisions of the Mutual Fund Regulations.
One can apply for a minimum of 100 units and a maximum of 50 lakh units.
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Securities Board of Nepal (SEBON) had given permission to the company on Falgun 3, 2079 BS for selling the units to the general public. Only after the approval from the regulatory body SEBON, the mutual fund scheme’s units can be sold to the general public.
The open-ended scheme “Kumari Sabal Yojana” will operate under “Kumari Samuhik Lagani Kosh”. In an open-ended mutual fund, interested investors can purchase or sell the shares in the fund directly from the fund. There is no need to purchase from existing shareholders.
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.
Investing in a mutual fund can be a good strategy for most investors as it offers decent returns at a low level of risk. Mutual funds are managed by professional experts and provide wide diversification.
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