Garima Subarna Yojana Oversubscribed; Units Allotted as Per Demand

Garima Capital Limited, under the promotion of Garima Bikas Bank Limited, issued units of its mutual fund scheme “Garima Subarna Yojana” at a face value of Rs. 10 per unit. In the first phase, 5 Crores units were offered to the public from Falgun 28 to Chaitra 11, 2082. The scheme received an overwhelming response, with 106,794 applicants applying for over 71.57 crore rupees worth of units, exceeding the total units available.

Out of the applications, 170 were rejected due to errors, leaving 106,624 valid applicants requesting units worth approximately Rs. 71.53 crore. The allotment was completed on Chaitra 22, 2082, at the central office of Garima Capital in Kamalpokhari, Kathmandu, and all valid applicants were allotted units as per their demand in accordance with the Securities Issuance and Allotment Directive, 2074.

Although the fund has approval to issue up to 10 Crores units worth Rs. 1 Arba, only 5 Crores units were offered in the first phase. As an open-ended scheme, its units will not be traded on the Nepal Stock Exchange; instead, trading (including SIP investments) will begin after three months from the allotment date. The company also expressed gratitude to regulatory bodies, financial institutions, and all applicants for their support.