Laxmi Capital refunding Laxmi Equity Fund excess public issue money from today
- ShareSansar, June 18, 2017 on Featured , IPO News , Latest , Mutual Fund , Stock Market
Laxmi Equity Fund is refunding excess money collected from investors of the public issue from today (Ashad 4, 2074). It had floated 10 crore units worth Rs 1 arba as part of its IPO shares. Since the issue was over-subscribed, now the Laxmi Equity Fund size is converted to Rs 1.25 arba.
The non-allotted investors have to visit their respective collection centers with receipt to collect their refund money through account payee cheque. Letter of authorization along with photocopy of identity card of authorized person must be presented if the investors cannot collect their money themselves.
Investors who applied up to Rs. 50,000 or 5,000 units (small investors) were allotted 100% of the units applied whereas investors who applied for more than Rs. 50,000 (big investors) got 58% of the applied units on pro-rata basis. Of the total shares floated, 15% was allotted aside for Laxmi Bank Limited and Laxmi Capital Markets Limited. The remaining 85% shares were allotted to the general public.
Laxmi Equity Fund is a closed-end 7-years equity oriented mutual fund scheme with fund size of Rs 1.25 arba. The mutual fund is managed by Laxmi Capital Market Limited and Laxmi Bank Limited is its fund sponsor.