Kathmandu. Muktinath Capital Limited is going to issue its second mutual fund ‘Muktinath Mutual Fund-2’. The company is going to sell 100 million units worth Rs 1 billion at a face value of Rs 10 per unit.
Out of the total number of units, 13 per cent or 1.3 crore units have been reserved for fund promoter Muktinath Bikas Bank. Similarly, 20 lakh units have been set aside for the scheme manager Muktinath Capital. The remaining 8.5 crore units will be sold to the general public.
Applications for the fund will be open from September 1. Investors can apply for a minimum of 100 units to a maximum of 10 crore units. The last date to apply is September 29. If there are not enough applications by that period, the deadline can be extended till September 1.
Units can be allotted if at least 50 per cent i.e. 5 crore applications are received for the purchase of units within the open period and the extended period. If the minimum number of units are not sold, the scheme will be cancelled and the process of refunding the amount of the applicant will be started within 15 days.
The duration of this fund will be 10 years under ‘Muktinath Mutual Fund’. It is a closed-end scheme. Muktinath Capital Limited is also the issue and sale manager of the fund. Investors can apply through banks and financial institutions that have received ASBA approval from the Securities Board of India as well as through the web and app of Meroshare.
