The size of the scheme is of Rs 1 billion. However, in the first phase, the company is issuing 50 million mutual fund units worth Rs 500 million. Out of total issuing units, the company has secured 9 million units for scheme promoter, Garima Bikas Bank and 6 million units to scheme manager Garima Capital. The remaining 35 million units worth Rs 350 million will be issued to the general public.
The scheme is open-ended scheme, thus, the remaining units will be traded continuously as per Mutual Fund Trust Guideline.
Interested investors can apply for a minimum of 100 and maximum of 5 million mutual fund units.
The issue will close on early on March 16 and lately on March 26.
The company has appointed Garima Capital as issue manager. the interested investors can apply from all C-ASBA approved BFIs and Meroshare.
