Sunrise First Mutual Fund to issue shares worth Rs. 100 crores

September 25, 2019 | Investopaper

Sunrise Capital Limited is going to issue its first mutual fund scheme: Sunrise First Mutual Fund from today (Ashwin 8,2076). The issue will remain open until Ashwin 12, 2076. If it remains undersubscribed until that period, it will extend to Bhadra 7, 2076.

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The Mutual Fund Scheme is planning to issue 10 crores units of shares. The par value of each unit is Rs. 10. So, the total worth of the scheme is Rs. 100 crores.

Sunrise Bank will purchase 1.5 crores units of the fund or 15 percent of the total sold quantity. Hence, the general public can apply for the remaining 8.5 crores units of the scheme.

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Investors can apply for a minimum of 100 shares and a maximum of 1 crore shares.

The mutual fund scheme has received approval from Sebon on Bhadra 23, 2076. It had applied to the Securities Board of Nepal (SEBON) for the issuance of shares to the public on Ashad 9, 2076.

Mutual Fund can be good way of investing for those who don’t have time or skill to participate in the market.

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