Allotment of Kumari Sabal Yojana Concludes; 29,134 Valid Applicants Allotted the Units of the Scheme

Kumari Capital Limited issued its latest closed-end mutual fund scheme, the "Kumari Sabal Yojana," with a total value of Rs 1 Arba. The subscription period for this fund commenced on the 28th Magh and concluded on the 13th of Falgun, 2080. The allotment program, conducted at the premises of the fund manager, Kumari Capital in Naxal, was completed on the 16th of Falgun at 10 AM.

Out of the total 10 crore unit shares, 10 lakh units worth Rs. 1 crore were allocated to the scheme manager Kumari Capital Limited, 14% i.e. 1.4 crore units worth Rs. 14 crore were allocated to the fund sponsor Kumari Bank Limited. The remaining 8.5 crore units worth Rs 85 crore were issued to the general public.

As per the fund manager, a total of 29,160 applications were received out of which 29,134 valid applicants have been successfully allotted the issued units in their entirety. However, 26 applications faced rejection due to the identification of duplicate submissions during the scrutiny phase.

For rejected applicants, the fund manager recommends careful adherence to the application guidelines in future investment opportunities to ensure a smooth process.

As of now, Kumari Capital is managing two closed-end funds i.e. Kumari Equity Fund (KEF), and Kumari Dhanabriddhi Yojana (KDBY), and one open-end fund i.e Kumari Sunaulo Lagani Yojana (KSLY) in the market. The successful introduction of the "Kumari Sabal Yojana" further strengthens the diverse portfolio managed by Kumari Capital Limited.