Laxmi Equity Fund public issue collects Rs 18 crore from around 1700 applicants till second day

Laxmi Equity Fund has been floating its public issue of 10 crore unit shares worth Rs 1 arba from Baisakh 22, 2074.  Today is the third day of the public issue and the offer will close tomorrow (Baisakh 26, 2074) . As per the official of Laxmi Capital Market Limited, “The total collection of the public issue has reached to Rs 18 crore till second day from both regular and ASBA applications. Around 1700 application forms were received.” “The public issue has collected Rs 14.28 crore  from regular applications and Rs 2.87 crore from ASBA collections. 553 applicants submitted the application via ASBA forms and 900 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 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 13.46 as of Falgun end. Its last traded price (LTP) stands at Rs 12.37 as on May 4, 2017. Currently, there are 10 mutual fund schemes already in the market.