Laxmi Capital issuing public issue of Laxmi Equity Fund worth Rs 1 arba from today ; applicants can apply up to 1 crore units

Laxmi Equity Fund is floating its public issue of 10 crore unit shares worth Rs 1 arba from today (Baisakh 22, 2074). 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. The offer will close on Baisakh 26, 2074 at the earliest. The maximum closing date for the offer is Jestha 5, 2074. 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. The mutual fund is issuing a total of 10 crore unit of ordinary shares worth Rs 1 arba at face value of Rs 10 per unit. 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 [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. Also See: See why mutual funds are best to invest