Laxmi Value Fund-1, a mutual fund scheme worth Rs 40 crore launched by
Laxmi Capital, has been oversubscribed 3.5 times, according to latest
available updates.
Under the scheme, four crore units of face value Rs 10 was issued on Magh 29. By the time the offer was closed on Falgun 6, the fund has already received applications for units worth more Rs 1 arba 15 crore.
Because of the increased subscribers’ interest in the fund, the mutual fund’s size has been expanded to Rs 50 crore.
According to a Laxmi Capital official, the fund has received equally good response from both institutional as well as individual investors. The official said that full detail regarding the mutual fund will be available by Monday.
The company has said that the distribution of the shares would be completed within 40 days.
Of the total units issued, 15 percent had been set aside for fund sponsor Laxmi Bank Limited and fund manager Laxmi Capital Limited respectively.
Laxmi Value Fund-1 is a closed scheme with a maturity period of five years. Laxmi Mutual fund is the sixth mutual fund after Siddhartha Capital, Nabil Investment, NMB Capital and NIB Capital. Laxmi Capital is a wholly-owned subsidiary of Laxmi Bank.
Laxmi Capital Market Limited debutant Laxmi Value Fund-1 had received [ICRANP] AMC Quality 3 (AMCs) from ICRA Nepal.
source: sharesansar.com.22 feb 2015
LINK
Under the scheme, four crore units of face value Rs 10 was issued on Magh 29. By the time the offer was closed on Falgun 6, the fund has already received applications for units worth more Rs 1 arba 15 crore.
Because of the increased subscribers’ interest in the fund, the mutual fund’s size has been expanded to Rs 50 crore.
According to a Laxmi Capital official, the fund has received equally good response from both institutional as well as individual investors. The official said that full detail regarding the mutual fund will be available by Monday.
The company has said that the distribution of the shares would be completed within 40 days.
Of the total units issued, 15 percent had been set aside for fund sponsor Laxmi Bank Limited and fund manager Laxmi Capital Limited respectively.
Laxmi Value Fund-1 is a closed scheme with a maturity period of five years. Laxmi Mutual fund is the sixth mutual fund after Siddhartha Capital, Nabil Investment, NMB Capital and NIB Capital. Laxmi Capital is a wholly-owned subsidiary of Laxmi Bank.
Laxmi Capital Market Limited debutant Laxmi Value Fund-1 had received [ICRANP] AMC Quality 3 (AMCs) from ICRA Nepal.
source: sharesansar.com.22 feb 2015
LINK
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