12,50,00,000 Units of Prabhu Select Fund Listed in NEPSE

Mon, Jun 21, 2021 2:53 PM on Latest, Share Listed, Stock Market,

12,50,00,000 units of Prabhu Select Fund have been listed in NEPSE.

The allotment of the Prabhu Select Fund has concluded on Jestha 14. Out of 85,555 applicants who applied to Prabhu Select Fund, duplicate applications and applications invalidated for other reasons were rejected.

82,152 applicants have been allotted units of the Prabhu Select Fund. All those who applied for a minimum of 100 units to 1 million units have been allotted units as per their applied quantity. Meanwhile, those who applied for over 1 million units have been allotted units equally. Out of this, 106.25 million units have been distributed to the general investors. The fund has given 14 percent of the total units to fund promoter Prabhu Bank Ltd. This is worth Rs. 175 million equivalent to 17.5 million units. The Fund Manager Prabhu Capital got 1.25 million units.

As per the provisions, the size of the Prabhu Select Fund was extended to 125 million units, which is Rs. 1.25 billion, even though the fund had only issued 100 million units initially.