“Sanima Large Cap Fund” will open for application from today, i.e. Magh 09. It is a mutual fund promoted by Sanima Bank and managed by Sanima Capital. 10 crore units worth Rs. 1 Arba will be issued.
15% of the total issue is reserved for fund promoter Sanima Bank and issue manager Sanima Capital. The remaining units will be issued. “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.
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.