Public Issue of 8 Crore Units "Laxmi Value Fund II" Mutual Fund Scheme Closing Today
Fri, Aug 4, 2023 9:18 AM on Latest, Mutual Fund,
Laxmi Capital Market Limited is closing the issue of its mutual fund scheme "Laxmi Value Fund-II" to the general public today i.e. 19th Shrawan. The issue opened on the 5th of Shrawan and was supposed to close on the 9th of Shrawan, 2080. However, since the issue manager didn't receive enough applications, the issue was extended till today.
This is a closed-end mutual fund scheme that has been 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 Former Laxmi Bank Limited whereas the remaining 6.80 crore units are being issued to the general public.
According to CDSC, a total of 38,877 applicants have applied for 25,458,510 units worth Rs. 25.45 Crore so far. This data is as of 5 PM yesterday.
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.
