‘Laxmi Value Fund-1’ to be closed from today; already oversubscribed

ShareSansar, February 18:

Laxmi Bank Limited subsidiary Laxmi Capital Limited debut mutual fund- ‘Laxmi Value Fund-1’- is closing its issue from today due to oversubscription. The issue was open to the general public from Magh 29.

One of the officials from Laxmi Capital told sharesansar this morning that “We have received the amount which is more than what is required, so we are closing this issue from today”

Laxmi Value Fund is a closed-ended, five-year equity oriented fund of the size Rs 40 crore and can be extended to Rs 50 core if there is oversubscription. 15 percent of the units are set aside for fund sponsor Laxmi Bank Limited and fund manager Laxmi Capital Limited respectively.

Earlier, Laxmi Capital Market Limited debutant Laxmi Value Fund has got [ICRANP] AMC Quality 3 (AMCs) from ICRA Nepal.