Siddhartha Capital Limited has opened the public issuance of units under Siddhartha Equity Fund 2 from today, Baisakh 21.
The company is issuing 10 crore units worth Rs. 1 Arba at a face value of Rs. 10 per unit. The scheme will operate under Siddhartha Mutual Fund as a 12-year closed-end mutual fund scheme.
Out of the total 10 crore units:
- 1.5 crore units have been reserved for the fund promoter, Siddhartha Bank Limited.
- The remaining 8.5 crore units worth Rs. 85 Crores are being offered to the general public.
Investors can apply for a minimum of 100 units and a maximum of 1 crore units.
The issue will remain open until Baisakh 24. If all units are not subscribed within the early closing period, the deadline may be extended until Jestha 4.
Siddhartha Capital Limited has also been appointed as the issue and sales manager for the scheme.
Interested investors can apply through all ASBA-approved banks and financial institutions authorized by Securities Board of Nepal and their designated branches. Applications can also be submitted online through the “Mero Share” platform operated by CDS and Clearing Limited using the C-ASBA system.
For the mutual fund issuance, ICRA Nepal has assigned an “ICRANP Issuer Rating Triple B Plus” rating to the fund promoter. The scheme manager has also received an “ICRANP AMC Quality 3 Plus” rating.
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