Prabhu Capital To Close Sale Of 10 Crore Units Of ‘Prabhu Select Fund’ On Jestha 9

May 23, 2021 | Investopaper

Prabhu Capital Limited has launched a new mutual fund scheme named “Prabhu Select Fund”. The company is currently selling 10 crore units of the scheme at a par value of Rs 10. Hence, the total size of the ‘Prabhu Select Fund’ is Rs 1 Arba.

The issue was open for sale from Jestha 5, 2078 BS. Due to over-subscription, the sale of mutual fund scheme will close Jestha 9, 2078 BS. If the issue had remained under-subscribed until that period, it would extend to Jestha 15, 2078 BS.

Out of the total issue, the promoter bank ‘Prabhu Bank’ will purchase 1.40 crore units worth Rs 14 crores. Likewise, the fund manager ‘Prabhu capital’ will buy 10 lakh units worth Rs 1 crore. Hence, the general public can apply for the remaining 8.50 crore units that amounts to Rs 85 crores.

One can place the application for a minimum of 100 units and a maximum of 8.50 crore units.

Prabhu Capital is selling the scheme under ‘Prabhu Mutual Fund’. This is the first mutual fund scheme launched by Prabhu Capital.

Prabhu Select Fund is a closed ended scheme with a maturity period of 7 years.

Mutual Fund can be a good strategy to many investors who want to invest in the stock market and generate healthy returns.

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