Laxmi Bank Promoted "Laxmi Value Fund II" To Issue 8 crore Units Mutual Fund Scheme To General Public From Shrawan 05
Wed, Jul 12, 2023 8:03 AM on Mutual Fund, Latest,
Laxmi Capital Market Limited has published an offer letter to issue the closed-end mutual fund scheme "Laxmi Value Fund-II." The issue will open on the 5th of Shrawan and close on the 9th of Shrawan, 2080. If not subscribed fully by the early closing date, the issue can be extended till Shrawan 19.
This is a closed-end mutual fund scheme that will be floating 8 crore unit shares each at a par value of Rs 10 per share. Out of 8 crore unit shares; 15% or 1.20 crore units worth Rs. 12 crore have been allocated to the fund sponsor Laxmi Bank Limited whereas the remaining 6.80 crore units will be issued to the general public from 5th Shrawan.
It has a maturity period of 10 years. Applicants can apply for a minimum of 100 units to a maximum of 8,000,000 units.
As of now, Laxmi Capital Market is managing two closed-end funds i.e Laxmi Equity Fund (LEMF) and Laxmi Unnati Kosh (LUK), and one open-end fund i.e Shubha Laxmi Kosh (SLK) in the market.
