The company is issuing the mutual from March 12.
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 company has appointed Garima Capital as issue manager. the interested investors can apply from all C-ASBA approved BFIs and Meroshare.
