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Siddhartha Equity Fund public issue collects Rs 33 crore from 2,513 applicants on first day

- ShareSansar, October 12, 2017  on Exclusive , Featured , IPO News , Latest , Stock Market
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Siddhartha Equity Fund has been floating its public issue of 12 crore unit shares worth Rs 1.20 arba from Ashwin 25, 2074. Today is the second day of the public issue.

As per the official of Siddhartha Capital Limited, “The total collection of the public issue has reached to Rs 33 crore on the first day. Around 2,513 application forms were received.”

Siddhartha Equity Fund is a closed-end 10-years equity oriented mutual fund scheme with fund size of Rs 1.20 arba. The mutual fund is managed by Siddhartha Capital Limited and Siddhartha Bank Limited is its fund sponsor.

The offer will close on Ashwin 29, 2074 at the earliest. The maximum closing date for the offer is Kartik 7, 2074.

Interested people must apply for a minimum of 100 units of share and they can apply for up to 24,00,000 unit of shares.

The mutual fund is issuing a total of 12 crore unit of ordinary shares worth Rs 1.20 arba at face value of Rs 10 per unit. Of the total 12 crore unit shares, the company has allocated 1.80 crore units (or 15%) for the Siddhartha Bank Limited, the fund sponsor and 10.20 crore unit shares for general public.

Interested applicants can collect application forms from Siddhartha Capital, Naxal, Kathmandu and from all branches of Siddhartha Bank in Nepal. Applicants can also apply through ASBA-approved banks from all 75 districts across the country.

Siddhartha Capital already has its two mutual fund schemes named Siddhartha Investment Growth Scheme (SIGS1) and Siddhartha Equity Oriented Scheme ( SEOS), both are listed in NEPSE.

Siddhartha Equity Oriented Limited (SEOS) and Siddhartha Investment Growth Scheme-1 (SIGS1)—closed-end 5 years mutual fund schemes, SIGS1 and SEOS have reported net asset value (NAV) of Rs 27.90 and Rs 16.05 respectively in Shrawan end.

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