Laxmi Equity Fund public issue collects Rs 1.88 arba from 9,616 applicants till last day; fund size increased to Rs 1.25 arba

- ShareSansar, May 15, 2017  on Featured , IPO News , Latest , Stock Market

Laxmi Equity Fund had floated its public issue of 10 crore unit shares worth Rs 1 arba from Baisakh 22, 2074 till Baisakh 28, 2074.

As per an official of Laxmi Capital Market Limited, the mutual fund issue has collected Rs 1 arba 88 crore 26 lakh from around 9,616 application forms till last day.

Now, the fund size will be increased by 25% i.e to Rs 1 arba 25 crore as the issue has collected more than Rs 1 arba.

Laxmi Equity Fund is a closed-end 7-years equity oriented mutual fund scheme with fund size of Rs 1 arba. The mutual fund is managed by Laxmi Capital Market Limited and Laxmi Bank Limited is its fund sponsor.

Interested people were required to apply for a minimum of 100 units of share and they could apply for up to 1,00,00,000 unit of shares.

The mutual fund had issued a total of 10 crore unit of ordinary shares worth Rs 1 arba at face value of Rs 10 per unit. Of the total 10 crore unit shares, the company has allocated 1.50 crore units (or 15%) for the Laxmi Bank Limited, the fund sponsor and 8.50 crore unit shares for general public.

Laxmi Capital Market Limited has got [ICRANP] AMC Quality 3 (AMCs) from ICRA Nepal.

Laxmi Capital already has its first mutual fund scheme Laxmi Value Fund – 1 (LVF1)listed in NEPSE. Currently, there are 10 mutual fund schemes already in the market.