The company is issuing a total of 400 million mutual fund units worth Rs 4 billion. Out of the total offered units, the company has secured 50 percent i.e. 20 million mutual fund units amounting to Rs 2 billion as seed capital for scheme promoter Himalayan Life Insurance. The remaining 20 million mutual fund units are being issued to the general public from August 31.
Interested investors can apply for a minimum of 100 and maximum of 40 million units from August 31.
The mutual fund will mature in 10 years. If the issue goes undersubscribed by 50 percent till the extended deadline, the issue will be scrapped and refund will be made by 15 days.
The company has appointed Himalayan Investment Banker as issue manager. interested investors can apply from all ASBA approved BFIs and Meroshare.
Infomerics Credit Rating Nepal has assigned IRN A Plus rating to the mutual fund promoter and IRN AMC Quality 3 rating to the scheme manager.
