Public Issue of 12 Crore Units "Sunrise Focused Equity Fund" Mutual Fund Scheme Closing Today
Tue, Feb 7, 2023 10:05 AM on IPO/FPO News, Mutual Fund, Latest,
Sunrise Capital Limited is closing the issue of the closed-end mutual fund scheme "Sunrise Focused Equity Fund" today i.e. on 24th Magh, 2079. The issue opened on the 10th Magh and was supposed to close on the 13th Magh. However, since the issue manager didn't receive enough applications, the issue was extended till today.
12 crore unit shares are being issued at a par value of Rs. 10 per unit. 15% of the total units i.e. 1.80 crore units worth Rs. 18 crores have been allocated to the fund promoter Sunrise Bank Limited. Thus, the remaining 10.20 crore units will be allocated to the general public.
"Sunrise Focused Equity Fund" is a closed-end fund that 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 1.2 crore units.
According to CDSC, 32,481 applicants have applied for a total of 63,832,380 units. This data is current as of 10 AM this morning.
Presently, Sunrise Capital is managing two closed-end funds i.e Sunrise First Mutual Fund (SFMF) and Sunrise Bluechip Fund (SBCF) in the market. As of Mangsir's end, SFMF and SBCF have a NAV of Rs. 11.39 and Rs. 8.78 respectively.
Currently, there are 36 mutual funds listed on the Nepal Stock Exchange, of which 30 are closed-end and 6 are open-end schemes. Apart from this, One closed-end mutual fund scheme, NIBL Growth Fund (NGF), is still going through the issuance process.
