Siddhartha Bank closing its Equity Oriented Scheme (SEOS) today

ShareSansar, June 29:

Siddhartha Bank Limited is closing the issuance of its five-year closed end Siddhartha Equity Oriented Scheme (SEOS) at a value of Rs 10 per unit today.

Out of the total 8 crore units of the scheme worth Rs 80 crore, 1.20 crore units have been set aside for the issuer itself.Interested investors must buy at least 100 units and at the most 80 lakh unit before the issue closes.The issue began on June 20.

Siddhartha Capital’s Chief Executive Officer Dhurba Timilsina informed that SEOS will target 70 percent equity market, 25 percent bond market and only 5 percent liquidity management. Asked why did they opt for an equity oriented scheme this time unlike their first scheme, Siddhartha Investment Growth Scheme-I or SIGS-I, he said that equity -oriented scheme was brought initially since the capital market is no longer undervalued and equity market is also growing.

SEOS, the second mutual scheme by the Siddhartha Bank, has received [ICRANP] AMC Quality 3 (AMCs) rating, which is very good while the issue manager itself has received ICRANP BBB, which is not bad at all.