Laxmi Unnati Kosh scheduled to accept applications from today, indefinitely delays the opening of the issue until further notice

Sun, Mar 22, 2020 1:51 PM on IPO/FPO News, Latest, Mutual Fund,

Laxmi Capital Market had decided to open the issue of Laxmi Unnati Fund from Chaitra 09, 2076. However, after the government directed to halt unnecessary services, the issue of the mutual fund scheme has indefinitely postponed by Laxmi Capital Market. The merchant banker will inform the opening of the issue once the situation is under control.

The fund will be issuing a total of 8 Crore units with per unit price of Rs.10. The fund sponsor Laxmi Bank (LBL) will be putting 15% as seed fund or 1.20 Crore units. The remaining 6.80 Crore units will be issued to the general public.

Laxmi Capital Market currently manages two mutual fund schemes. Laxmi Value Fund-1 (LVF1) is a closed-end 5 years mutual fund scheme which began with a fund size of Rs.50 Crore and going to mature on Chaitra 11, 2076 onwards and Laxmi Equity Fund (LEMF) is a closed-end 7 years equity oriented mutual fund scheme which began with a fund size of Rs.1.25 Arba.