August 18, 2022 | Investopaper
Laxmi Capital Markets Limited is currently selling 5 crore units of its new mutual fund scheme named ‘Shubha Laxmi Kosh’ from Shrawan 19, 2079 BS. The public offering will close on Bhadra 2, 2079 BS. The issue was set to close on Shrawan 23, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.
The fund manager will sell 5 crore units of the scheme at a par value of Rs 10 per unit. Hence, the total issue size amounts to Rs 50 crores. The scheme will be operated under ‘Laxmi Mutual Fund’.
Securities Board Of Nepal (SEBON) granted the permission on Jestha 31, 2079 BS for the public issuance. As the fund manager, Laxmi Capital had submitted the application to the board on Baisakh 9, 2078 BS seeking approval for selling the shares to the general public.
Laxmi Bank is the promoter company of the Laxmi Mutual Fund. Hence, the bank will purchase 15 percent or 75 lakh units of the scheme. The general public can apply for the remaining 4.25 crore units worth Rs 42.50 crores.
Interested investors can apply for a minimum of 100 units and a maximum of 50,00,000 units.
‘Shuva Laxmi Kosh’ is an open ended scheme. In an open-ended mutual fund, interested investors can purchase or sell the shares in the fund directly from the fund. There is no need to purchase from existing shareholders.
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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