Sanima Capital To Close IPO Of ‘Sanima Growth Fund’ On Karthik 30

November 16, 2022 | Investopaper

Sanima Capital Limited is currently issuing units of its new mutual fund scheme named-‘Sanima Growth Fund’ from Karthik 16, 2079 BS.

The public issue will close on Karthik 30, 2079 BS. Previously, the scheme offering was set to close on Karthik 20, 2079 BS. However, due to the under-subscription until that period, the deadline for application was extended.

The fund manager plans to sell 12 crore units of the scheme at a par value of Rs 10 per unit. Hence, the total issue size amounts to Rs 1.2 Arba. The scheme will be operated under ‘Sanima Mutual Fund’.

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Sanima Bank is the promoter company of the Sanima Mutual Fund. Hence, the bank along with its subsidiary Sanima Capital (fund manager) will purchase 15 percent or 1.8 crore units of the scheme. Out of which, the bank will purchase 13 percent or 1.56 crore units and the fund manager will purchase 2 percent or 24 lakh units. The general public can apply for the remaining 10.2 crore units worth Rs 102 crores.

One can apply for a minimum of 100 units and a maximum of 1.2 crore units.

‘Sanima Growth Fund’ is a closed ended scheme. It will be listed and traded in Nepal Stock Exchange (NEPSE).

Securities Board Of Nepal (SEBON) granted the permission to company for the public offering on Bhadra 28, 2079 BS. Sanima Capital had submitted the application to the board on Ashad 31, 2078 BS for the purpose of collecting funds from the general public by selling its units.

Investing in a mutual fund can be a good strategy for most investors as it offers decent returns at a low level of risk. Mutual funds are managed by professional experts and provide wide diversification.

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