Reminder: IPO of Prabhu Select Fund (Mutual Fund) Closing Today; Issue already oversubscribed
Sun, May 23, 2021 6:00 AM on IPO/FPO News, Mutual Fund, Stock Market, Latest,
Prabhu Capital is closing the issue of its first-ever mutual fund scheme Prabhu Select Fund from today i.e. Jestha 9, 2078. This issue was opened since Jestha 5. All the interested investors can apply till 5 PM today.
According to the issue manager, the issue has received 56,312 applications for a total of 13,06,20,600 units. This is the data for the third day (Jestha 7). By this time, the issue was subscribed to about 145.62%.
Prabhu Select Fund is a mutual fund scheme worth Rs 1 Arba. Thus, 10 crore units of Rs 10 face value each will be issued. Prabhu Select Fund is a close-ended scheme with a maturity period of 7 years. The fund projects a 4.08% return to investors in its first year, 22.34% in its second year, 42.16% in its third year, and 130.47% in its eighth year.
14% of the issue has been allocated for the fund promoter Prabhu Bank and 1% for the fund manager Prabhu Capital. The remaining 8.5 crore units will be issued to the general public.
Investors can apply for a minimum of 100 units and a maximum of 8.5 crore units.
The 1 arba worth mutual fund scheme will be managed by highly experienced fund managers experienced in different national and international securities markets for which interested investors can make applications by CASBA approved BFIs and via meroshare online application portal, as per the media statement.
