Kumari Bank Promoted "Kumari Sabal Yojana" To Issue 8.5 crore units Mutual Fund Scheme To General Public from 28th Magh
Fri, Feb 2, 2024 10:14 AM on Latest, IPO/FPO News, Mutual Fund,
Kumari Capital Limited has published an offer letter to issue the closed-end mutual fund scheme "Kumari Sabal Yojana". The issue will open on 28th Magh and close on 2nd Falgun, 2080. If not subscribed fully by the early closing date, the issue can be extended till the 13th Falgun.
Out of 10 crore unit shares, 1% i.e. 10 lakh units worth Rs. 1 crore have been allocated to the scheme manager Kumari Capital Limited, 14% i.e. 1.4 crore units worth Rs. 14 crore have been allocated to the fund sponsor Kumari Bank Limited. The remaining 8.5 crore units worth Rs 85 crore will be issued to the general public from 28th Magh.
"Kumari Sabal Yojana" is a closed-end fund with a maturity period of 10 years. Applicants can apply for a minimum of 100 units to a maximum of 1,00,00,000 units.
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.
