Siddhartha Capital Closing IPO Of ‘Siddhartha Investment Growth Scheme 3’ On Baisakh 10
April 23, 2023 | Investopaper
Siddhartha Capital Limited has launched another mutual fund scheme named-‘Siddhartha Investment Growth Scheme 3 ‘. The fund manager is currently selling 12 crore units of the scheme from Chaitra 26, 2079 BS.
The public offering will close on Baisakh 10, 2080 BS. Previously, the issue was set to close on Chaitra 29, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.
Out of the total units, 10 percent or 1.2 crore units will be purchased by Siddhartha Bank Limited, the promoter bank of the mutual fund. Likewise, 5 percent of 60 lakh units will be bought by Siddhartha Capital Limited, the fund manager of the scheme. Therefore the general public can participate in the remaining 10.2 crore units of the scheme.
One can subscribe for a minimum of 100 units and a maximum of 1.2 crore units.
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Securities Board Of Nepal (SEBON) had given permission to the company on Falgun 3, 2079 BS for selling the units to the general public. As the fund manager, Siddhartha Capital had submitted the application to the board on Ashad 31, 2078 BS.
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 ‘Siddhartha Mutual Fund’.
‘Siddhartha Investment Growth Scheme 3 ‘ is a closed ended scheme. It will be listed and traded in Nepal Stock Exchange (NEPSE).
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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