October 30, 2023 | Investopaper
Muktinath Capital Limited is in the process of launching a new mutual fund scheme named “Muktinath Mutual Fund-1”. For this purpose, the fund manager has already submitted the application to the Securities Board of Nepal (SEBON) on Ashwin 26, 2080 BS.
The close-ended scheme “Muktinath Mutual Fund-1” will operate under the fund “Muktinath Mutual Fund”. The fund 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 be floated to the general public.
Out of the total public issue, 15 percent or 1.5 crore units of the fund will be purchased by Muktinath Bikas Bank, the promoter bank of the mutual fund, and Muktinath Capital Limited, the fund manager of the scheme.
After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.