"Sunrise Bluechip Fund" Finally Listed in NEPSE

12,50,00,000 units Sunrise Bluechip Fund (SBCF) have been listed in NEPSE.

Sunrise Capital Limited opened the IPO issue of 10 crore units of Sunrise Bluechip Fund from 1st Chaitra. Out of the 10 crore units to be issued, 15% units were reserved for fund promoter Sunrise Bank. The remaining 8,50,00,000 units were open for application. Rs. 10 is the par value per unit.

According to the issue manager, 56,058 applications were received for a total of 12,37,64,540 units. Of the total applications, 53,144 applications were considered valid. 53,138 applicants who demanded from 100 units to 30 lakh units are allotted the entire quantity they applied for. Similarly, 4 applicants who individually demanded 50 lakh units have each got 46,05,026 units. Finally, two applicants who individually demanded 1 crore units have each got 46,05,028 units.

Since the issue was oversubscribed, it seems that the fund manager has extended the fund size by 25%.

The fund has already published its first NAV report for the month of Chaitra of last month. The rookie mutual fund has invested Rs. 6.05 crores in listed shares and Rs. 3.62 crores in debentures. The fund still has a whopping unutilized amount of over Rs. 1.17 Arba in its bank balance. The fund has a NAV of Rs. 9.96. The fund is at a loss of Rs. 48.19 lakhs in its first month of operation.