Public Issue of 8 Crore Units "Prabhu Smart Fund" Mutual Fund Scheme Closing Today; Issue Oversubscribed by 1.13 Times

Prabhu Capital Limited has been issuing the closed-end mutual fund scheme "Prabhu Smart Fund." The issue was open from the 18th Falgun and was supposed to close on the 23rd Falgun, 2079. However, if it was not subscribed by the early closing date, the deadline was extended till today i.e. on Falgun 28.

8 crore unit shares are being issued at a par value of Rs. 10 per unit. 14% of the total units i.e. 1.12 crore units worth Rs. 11.2 crores have been allocated to the fund promoter Prabhu Bank Limited whereas 1% of the total units i.e. 8 lakh units have been allocated to the fund manager Prabhu Capital Limited. Thus, the remaining 6.80 crore units are for the public issue.

"Prabhu Smart 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 80 lakh units.

According to CDSC, 25,297 applicants have already applied for 90,525,500 units. Thus, the issue is already oversubscribed by 1.13 times so far. This data is current as of 10 AM this morning.

Currently, Prabhu Capital is managing one closed-end fund i.e Prabhu Select Fund (PSF) in the market.

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