"Kumari Dhanbriddhi Yojana" Allotted to Applicants; This is the Allotment Structure

Fri, Jun 17, 2022 5:06 PM on Latest, Mutual Fund, IPO/FPO News,

The public issue of " Kumari Dhanbriddhi Yojana" has been allotted to applicants. The issue had opened on Jestha 12, 2079, and closed on Jestha 26, 2079, at the end of banking hours.

“Kumari Dhanabriddhi Yojana” is a closed-end fund, meaning it can be traded in NEPSE. The fund has a maturity period of 10 years. 85% of the total issue i.e. 10.20 crore units was opened for the general public the and remaining 15% i.e 1.8 crore units were kept as seed capital for sponsor Kumari Bank Limited and fund manager Kumari Capital Limited. The total issue for this scheme was 12,00,00,000 units worth Rs 1.2 Arba and the per-unit cost was Rs 10. An investor could apply for a minimum of 100 units and a maximum of 1.2 crore units.  

According to Kumari Capital, the fund promoter company Kumari Bank Limited allotted a total of 1,83,76,089 units worth Rs 18.37 crore, while the remaining 10,41,31,170 units were distributed to other applicants. Out of 1,39,139 applicants, 1,39,093 applicants have been allotted units as per their demand, while 46 applicants are invalid. As a result, the unit has been distributed according to the demand of those who filed for 100 to 100,00,000 units.

Kumari Capital also forecasts a 10-percent dividend in the first two years, 12 percent in the following four, 15 percent in the next two, and 108 percent in the last ten years.