Reliable Investment and Merchant Capital Selling 100,000,000 Units of ‘Reliable Samriddhi Yojana’ from Today
April 16, 2025 | Investopaper
Reliable Investment and Merchant Capital Limited has launched a new mutual fund scheme named “Reliable Samriddhi Yojana”. The fund manager is currently selling the units of the mutual fund scheme in the public offering from Baisakh 3, 2082 BS.
The close-ended scheme “Reliable Samriddhi Yojana” will operate under “Reliable Mutual Fund”. 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.
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If fully subscribed, the scheme offering will close on Baisakh 7, 2082 BS. However, if it remains under-subscribed until that period, the deadline for application will extend until Baisakh 17, 2081 BS.
Interested investors can apply for a minimum of 100 units and maximum of 1 crore units.
Out of the total public issue, 14 percent or 1.4 crore units of the fund will be purchased by Reliable Nepal Life Insurance Limited, the promoter of the mutual fund and 1 percent or 10 lakh units will be purchased by the fund manager, Reliable Investment and Merchant Capital Limited
For this purpose, Securities Board of Nepal (SEBON) gave the permission to the company on Falgun 19, 2081 BS. The fund manager had submitted the application to the board on Mangsir 12, 2081 BS seeking permission to sell the units to the public. Only after the permission from the regulatory body SEBON, the mutual fund scheme can be floated to the general public.
After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.
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