The company is issuing 120 million mutual fund units having a face value of Rs 10 per unit from April 9.
Out of the total offered units, the company has allocated 10 percent i.e. 12 million units for Siddhartha Bank, promoter of the scheme and 5 percent i.e. 6 million units to Siddhartha Capital, scheme manager. The general public can apply for the remaining 102 million mutual fund units.
Interested investors can apply for a minimum of 100 and maximum of 12 million units.
The scheme is a close-ended mutual fund scheme. The total size of the scheme is of Rs 1.20 billion. The current issue required to sale at least 50 percent i.e. 60 million mutual fund units. If the issue is undersubscribed, the capital will cancel the issue and refund the money within 15 days. The mutual fund will mature in 10 years.
The company has appointed Siddhartha Capital as issue manager. Interested investors can apply from all ASBA approved BFIs.
ICRA Nepal has assigned BBB rating to the issue indicating average risks.
