“Sanima Large Cap Fund” has opened for application form Magh 09. It is a mutual fund promoted by Sanima Bank and managed by Sanima Capital. 10 crore units worth Rs. 1 Arba has been issued.
15% of the total issue is reserved for fund sponsored Sanima Bank and issue manager Sanima Capital. The remaining units are issued for eligible investors (individuals and institutions). “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.
According to the issue manager, the IPO has received 50,744 applications worth Rs. 61,39,33,300.
The early closing date is on Magh 13. If the issue is not fully subscribed till then, the deadline can be extended to Magh 26. Applicants can apply for a minimum of 100 units and a maximum of 1 crore units. Unlike IPO of companies, IPOs of mutual funds are issued at a par value of Rs. 10.