Garima Mutual Fund Launches "Garima Samriddhi Yojana" with SEBON Approval

Garima Bikas Bank Limited, as the Fund Sponsor, and Garima Capital Limited, as the Fund Manager, have announced the launch of their first close-ended mutual fund scheme, Garima Samriddhi Yojana, under the Garima Mutual Fund. This scheme, valued at NPR 1 Arba, received approval from the Securities Board of Nepal (SEBON) on November 20, 2024, for public issuance.

Key Details of the Scheme:

1. Scheme Name: Garima Samriddhi Yojana
2. Type: Close-Ended
3. Fund Size: NPR 1 Arba
4. Units to Be Issued: 10 Crores
5. Per Unit Price: NPR 10
6. Minimum Sale Requirement: 5 Crore units
7. Maximum Units Allotted: 12.50 Crore
8. Tenure: 10 years
9. Maturity Period: 10 years from the date of allotment
10. Listing: Units will be listed on the Nepal Stock Exchange (NEPSE) for secondary market trading.

Institutions and Key Personnel:

1. Fund Sponsor: Garima Bikas Bank Limited, Lazimpat, Kathmandu
2. Fund Manager and Depository: Garima Capital Limited, Kamalpokhari, Kathmandu
3. Issue Manager: NIBL Ace Capital Limited, Lazimpat, Kathmandu

Supervisory Committee:

1. Shankar Prasad Koirala, Kathmandu
2. Baburam Regmi, Syangja
3. Ramji Regmi, Kathmandu
4. Jaleshwar Pandey, Bhaktapur
5. Achyut Raj Joshi, Kathmandu

Garima Capital, a licensed merchant banker, manages mutual funds and offers services like underwriting, portfolio management, and depository services, available through Garima Bikas Bank branches. The public issuance of Garima Samriddhi Yojana is expected soon, providing a strong investment opportunity.