Deadline Extended for the Issue of "Sunrise Focused Equity Fund" till Magh 24; Issue Collected Rs 8.37 Crore So Far From General Public
Fri, Jan 27, 2023 10:19 AM on Latest, IPO/FPO News, Mutual Fund,
Sunrise Capital Limited has extended the issue of the closed-end mutual fund scheme "Sunrise Focused Equity Fund" till 24th Magh, 2079. The issue opened on the 10th Magh and was supposed to close today (13th Magh). However, since the issue manager didn't receive enough applications, the issue has been extended till Magh 24.
12 crore unit shares are being issued at a par value of Rs. 10 per unit. 15% of the total units i.e. 1.80 crore units worth Rs. 18 crores have been allocated to the fund promoter Sunrise Bank Limited. Thus, the remaining 10.20 crore units will be allocated to the general public.
"Sunrise Focused Equity Fund" is a closed-end fund that can be traded in NEPSE. The fund has a maturity period of 10 years. Applicants can apply for a minimum of 100 units to a maximum of 1.2 crore units.
According to CDSC, 14,374 applicants have applied for a total of 83,70,820 units. This data is current as of 10 AM this morning.
Presently, Sunrise Capital is managing two closed-end funds i.e Sunrise First Mutual Fund (SFMF) and Sunrise Bluechip Fund (SBCF) in the market. As of Mangsir's end, SFMF and SBCF have a NAV of Rs. 11.39 and Rs. 8.78 respectively.
Currently, there are 36 mutual funds listed on the Nepal Stock Exchange, of which 30 are closed-end and 6 are open-end schemes. Apart from this, One closed-end mutual fund scheme, NIBL Growth Fund (NGF), is still going through the issuance process.