Sunrise Capital Limited has extended the IPO issue of 10 crore units of Sunrise Bluechip Fund. The issue opened from 1st Chaitra. Although this issue was supposed to close yesterday, i.e. on 4th Chaitra, 2077, the deadline has been extended to Chaitra 16.
Nonetheless, the issue manager can close the issue earlier than that if the issue is fully subscribed.
Out of the 10 crore units to be auctioned, 15% units have been reserved for fund promoter Sunrise Bank. The remaining 8,50,00,000 units are open for application. Rs. 10 is the par value per unit. Applicants can apply for a minimum of 1,00 units and a maximum of 1 crore units.
By this Monday (yesterday), the issue was subscribed over 50.6% from over 22,000 applicants. This was only the second day of the issue. Furthermore, the fund has projected that it will be able to provide a 22.38% annual dividend to its unitholders. Thus, the fund manager has requested investors to invest without hesitation.