“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. Unlike IPO of companies, IPOs of mutual funds are issued at a par value of Rs. 10. Applicants can apply for a minimum of 100 units and a maximum of 1 crore units.
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 69,745 applications for a total of 9,75,04,220 units as of now. If we base assumptions on this data, the issue is already fully subscribed and the issue will close tomorrow i.e 2077-10-15 at 5:00 PM.