Public Issue of 8.5 Crore Units "Kumari Sabal Yojana" Mutual Fund Scheme Closing Today
Sun, Feb 25, 2024 9:35 AM on Latest, Mutual Fund,
Kumari Capital Limited is closing the issue of its mutual fund scheme "Kumari Sabal Yojana" to the general public today i.e. on Falgun 13, 2080. The issue opened on the 28th Magh and was supposed to close on the 2nd Falgun, 2080. However, since the issue manager didn't receive enough applications, the issue was extended till today.
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 are issued to the general public.
According to CDSC, a total of 31,027 applicants have applied for 6,41,56,920 units worth Rs. 64.15 Crore so far. This data is as of 5 p.m. yesterday.
"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.
