The company is issuing 100 million units of mutual fund units from coming Wednesday. In a press meeting organized today by the company, it announced that the scheme is planning to distribute 10 percent dividend in the first year.
Similarly, the capital estimated to distribute a dividend of 12 percent in 2nd and 3rd year, 14 percent in 4th and 5th year, 16 percent in 6th and 7th year and 18 percent in 8th and 9th year.
Bijay Lal Shrestha, CEO of Sunrise Capital said that the NAV of Sunrise First is expected to reach Rs 10.91 while it is expected to reach as high as Rs 21.29 by 10th year of issuance.
Sunrise First, a 10 yearly close ended scheme, is the first mutual fund scheme of Sunrise Capital.
Out of the total offered units, the company has allocated 15 percent i.e. 5 million units to Sunrise Capital. The remaining 85 million units will be issued to general public.
The interested investors can apply for a minimum of 100 to maximum of 10 million of mutual fund units from all ASBA approved BFIs and through meroshare. The issue will close on September 29.
