Public Issue of "Nepal Life Samriddhi Lagani Yojana" Mutual Fund Scheme Opening From Today

Nepal Life Capital Limited is opening the issue of the "Nepal Life Samriddhi Lagani Yojana," a close-ended mutual fund scheme. The issue will open from today, i.e., on the 4th Magh and close on the 8th Magh, 2082. If not fully subscribed by the early closing date, the issue can be extended until Magh 18.

Out of 16 crore unit shares, 14%, i.e., 2.24 crores units worth Rs. 22,40,00,000, have been allocated to the scheme manager, Nepal Life Insurance Limited, and 1%, i.e., 16,00,000 units worth Rs. 1.60 crores, have been allocated to the fund sponsor, Nepal Life Capital Limited. The remaining 13,60,00,000 units worth Rs 1.36 Abra will be issued to the general public and institutions.

"Nepal Life Samriddhi Lagani Yojana" is a closed-ended fund. Applicants can apply for a minimum of 100 units to a maximum of 1,60,00,000 units.

This is the first mutual fund scheme that Nepal Life Capital Limited will manage.

There are currently 41 closed-end mutual funds listed on the Nepal Stock Exchange, whereas 12 open-end schemes are traded directly with the respective fund manager.