Kumari Bank Promoted Kumari Dhanabriddhi Yojana to Issue 12 crore units Mutual Fund Scheme to General Public from Jestha 12

Tue, May 17, 2022 10:47 AM on Latest, IPO/FPO News, Mutual Fund,

Kumari Capital Limited has published an offer letter to issue the "Kumari Dhanabriddhi Yojana." The issue will open on 12th Jestha and close on 17th Jestha, 2079. If not subscribed fully by the early closing date, the issue can be extended till Jestha 26.

12 crore units will be 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 Kumari Bank Limited and the remaining 10.20 crores units will be allocated to the general public.

"Kumari Dhanabriddhi Yojana" is a closed-end fund, meaning it 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 1.20 crore units. 

As of now, Kumari Capital manages one close-ended mutual fund i.e Kumari Equity Fund (KEF). There are total 29 mutual funds in Nepal among which 25 are close-ended and 4 are open-ended funds. 

Offer Letter