Prabhu Bank Promoted "Prabhu Smart Fund" to Issue 8 Crore Units Mutual Fund Scheme to General Public from Falgun 18
Fri, Feb 17, 2023 11:21 AM on Latest, Mutual Fund,
Prabhu Capital Limited has published an offer letter to issue the closed-end mutual fund scheme "Prabhu Smart Fund." The issue will open on 18th Falgun and close on 23rd Falgun, 2079. If not subscribed fully by the early closing date, the issue can be extended till Chaitra 05.
8 crore unit shares will be issued at a par value of Rs. 10 per unit. 14% of the total units i.e. 1.12 crore units worth Rs. 11.2 crores have been allocated to the fund promoter Prabhu Bank Limited whereas 1% of the total units i.e. 8 lakh units have been allocated to the fund manager Prabhu Capital Limited. Thus, the remaining 6.80 crore units will be allocated to the general public.
"Prabhu Smart Fund" is a closed-end fund, meaning it can be traded in NEPSE. The fund has a maturity period of 10 years. Applicants can apply for a minimum of 100 units to a maximum of 80 lakh units.
Currently, Prabhu Capital is managing one closed-end fund i.e Prabhu Select Fund (PSF) in the market.
