Laxmi Unnati Kosh IPO To Close On Shrawan 25

August 9, 2020 | Investopaper

Laxmi Capital Market Limited is issuing IPO of 80,000,000 units of its mutual fund scheme Laxmi Unnati Kosh from Shrawan 11, 2077. The issue was set to remain open till Shrawan 14, 2077. However, due to the undersubscribtion until that period, it issue extended to Shrawan 25, 2077.

Out of the total issue, the general public can participate for 6,80,00,000 units. The remaining units are reserved for scheme promoter Laxmi Bank Limited.

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The face value of the each unit is Rs 10. Hence, the mutual fund scheme is planning to collect Rs 80 crores from the IPO.

Investors can apply for a minimum of 100 units and a maximum of 80 lakhs units.

Laxmi Mutual Fund is the fund manager of ‘Laxmi Unnati Kosh’

Securities Board of Nepal(SEBON) provided the approval for the issue of mutual fund scheme on Falgun 20, 2076.

Previously, the issue was set to open in Chaitra 9, 2076. However, due to enforced lockdown against Covid-19 prevention from Chaitra 11, the company postponed the offering.

Laxmi Capital Markets Limited is the issue manager for the IPO.

Also Read: Mutual Funds In Nepal: Every Thing You Need To Know