Last day to apply for 10 crore units public issue of Laxmi Equity Fund; issue collected Rs 1.60 arba so far

Laxmi Equity Fund has been floating its public issue of 10 crore unit shares worth Rs 1 arba from Baisakh 22, 2074 and today (Baisakh 28, 2074) is the last day to apply for the same. The issue has collected Rs 1.60 arba till fourth day. As per an official of Laxmi Capital Market Limited, “The mutual fund issue has collected Rs 1.60 arba from around 7,831 application forms.” “On the fourth day, the public issue has collected Rs 62.21 crore from regular applications and Rs 48.31 crore from ASBA collections. 1,856 applicants submitted the application via ASBA forms and 2,414 applicants submitted via regular application forms.”, added the official. Laxmi Equity Fund is a closed-end 7-years equity oriented mutual fund scheme with fund size of Rs 1 arba. The mutual fund is managed by Laxmi Capital Market Limited and Laxmi Bank Limited is its fund sponsor. Interested people must apply for a minimum of 100 units of share and they can apply for up to 1,00,00,000 unit of shares. Of the total 10 crore unit shares, the company has allocated 1.50 crore units (or 15%) for the Laxmi Bank Limited, the fund sponsor and 8.50 crore unit shares for general public. Interested applicants can collect application forms from Laxmi Capital Market, New Baneshwor, Kathmandu and from all branches of Laxmi Bank in Nepal. Applicants can also apply through ASBA-approved banks from all 75 districts across the country. Laxmi Capital Market Limited has got rating of [ICRANP] AMC Quality 3 (AMCs) from ICRA Nepal. Laxmi Capital already has its first mutual fund scheme Laxmi Value Fund – 1 (LVF1)listed in NEPSE. The fund’s net asset value (NAV) remains at Rs 11.55 as of Falgun end. Its last traded price (LTP) stands at Rs 12.75 as on April 16, 2017. Currently, there are 10 mutual fund schemes already in the market.