"Sanima Large Cap Fund" Allotted; Fund Managers Increase Fund Size to Account for Oversubscription of the Issue

"Sanima Large Cap Fund" has already closed its application. The IPO for the mutual fund had opened for application from Magh 09. It is a mutual fund promoted by Sanima Bank and managed by Sanima Capital. 10 crore units worth Rs. 1 Arba were issued.

15% of the total issue was reserved for fund sponsored Sanima Bank and issue manager Sanima Capital. The remaining units were issued for eligible investors (individuals and institutions). According to the issue manager, the IPO has received 75,884 applications for a total of 10,66,69,450 units. This is the final data reported after the issue closed at the end of banking hours. Considering this data, the IPO was oversubscribed a little over 1.25 times.

Since the IPO was oversubscribed, the fund managers have increased the total fund size to Rs. 1.2 Arba. Thus, a total of 12 crore units have been allotted on Magh 23. The fund manager and the issue manager have got a total of 1,93,88,940 units which is 16.16% of the issue. The remaining 1,93,88,940 units have been allotted to applicants.

"Sanima Large Cap Fund" is a close-ended fund, meaning it can be traded in NEPSE. Furthermore, the fund will mature 7 years after allotment.