Reliable Investment and Merchant Capital to Float 100,000,000 Units of ‘Reliable Samriddhi Yojana’
December 8, 2024 | Investopaper
Reliable Investment and Merchant Capital Limited is in the process of launching a new mutual fund scheme named “Reliable Samriddhi Yojana”. For this purpose, the fund manager has already submitted the application to the Securities Board of Nepal (SEBON) on Mangsir 12, 2081 BS seeking permission to sell the units to the public.
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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.
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 Reliable Nepal Life Insurance Limited, the promoter of the mutual fund.
After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.
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