Deadline Extended for the Issue of "Prabhu Smart Fund" Till Falgun 28; Issue Collected Rs. 55.09 Crore So Far
Tue, Mar 7, 2023 10:12 AM on Mutual Fund, Latest,
Prabhu Capital Limited has extended the issue of its closed-end mutual fund scheme "Prabhu Smart Fund" till 28th Falgun, 2079. The issue was opened from the 18th Falgun and was supposed to conclude today i.e. on the 23rd Falgun, 2079. However, since the issue manager didn't receive enough applications, the issue has been extended till Falgun 28.
8 crore unit shares are being issued at a par value of Rs. 10 per unit. 14% of the total units i.e. 1.12 crore units worth Rs. 11.2 crores have been allocated to the fund promoter Prabhu Bank Limited whereas 1% of the total units i.e. 8 lakh units have been allocated to the fund manager Prabhu Capital Limited. Thus, the remaining 6.80 crore units are for the public issue.
According to CDSC, 18,325 applicants have applied for a total of 55,094,100 units. This data is current as of 10:30 AM this morning.
"Prabhu Smart Fund" is a closed-end fund, meaning it can be traded in NEPSE. The fund has a maturity period of 10 years. Applicants can apply for a minimum of 100 units to a maximum of 80 lakh units.
Currently, Prabhu Capital is managing one closed-end fund i.e Prabhu Select Fund (PSF) in the market.
