Application period for Muktinath Mutual Fund-2 units extended until Ashwin 15
Muktinath Capital Limited has extended the application deadline for the purchase of units of Muktinath Mutual Fund-2 until Ashwin 15. A total of 10 crore units worth NPR 1 billion at a face value of NPR 10 per unit have been offered, of which 8.5 crore units are allocated for the general public.
Kathmandu. Muktinath Capital Limited has extended the application period for its second mutual fund, which opened for issuance and sale on Ashwin 1. Applications for the purchase of units of Muktinath Mutual Fund-2, launched by the Capital, can now be submitted until Ashwin 15. However, the Capital has stated that if applications exceed demand, the period will be closed earlier.
The Capital has offered 10 crore units worth NPR 1 billion at a face value of NPR 10 per unit. Of the total units to be issued, 13 percent of the total units sold, or 1.3 crore units, have been reserved for the fund promoter Muktinath Development Bank, and 20 lakh units for the scheme manager company Muktinath Capital Limited, while the remaining 8.5 crore units are being sold to the general public.
Applications for the fund must be for a minimum of 100 units, with a maximum limit of 1 crore units.
Under the Muktinath Mutual Fund, if applications for the purchase of at least 50 percent, or 5 crore units, are received within the application period opened for sale and the extended period granted by the board, the units can be allotted. If the minimum number of units is not sold, the scheme will be canceled, and the payment process to refund applicants' money within 15 days will be initiated.
The issue and sales manager for the fund is Muktinath Capital Limited. Investors can apply for the units of the 10-year fund through all banks and financial institutions licensed by the Securities Board and also via the Mero Share website and app. This is a closed-end scheme.