Public Issue of "Garima Subarna Yojana" Mutual Fund Scheme Closing From Today

Garima Capital Limited is closing the issue of its mutual fund scheme "Garima Subarna Yojana" to the general public today, 11th Chaitra, 2082. The issue opened on the 28th Falgun, 2082. Although the deadline for this public issue had been extended until 12th Chaitra, it is closing today due to oversubscription.

Out of 10 crore unit shares, 15%, i.e., 15 crores units worth Rs. 1,50,00,000, have been reserved (6%, i.e., 60 lakh units worth Rs. 60 crores, have been allocated to the scheme manager, Garima Capital Limited, and 9%, i.e., 90 lakh units worth Rs. 90 crores, have been allocated to the fund sponsor, Garima Bikas Bank Limited). However, for the first public issuance, 5 crore units worth Rs. 50 crore will be opened for sale.

The remaining 3.50 crore units worth Rs 35 crores will be issued to the general public and institutions. Since it is an open-ended mutual fund, the other remaining units will be opened for continuous purchase and sale through the distribution determined by the scheme manager as per the provisions of the Collective Investment Fund Regulations.

According to CDSC, 113,357 applicants have applied for 118,371,510 units worth Rs. 2.36 Arba so far.

"Garima Subarna Yojana" is an open-ended fund. Applicants can apply for a minimum of 100 units to a maximum of 50,00,000 units