Machhapuchhre Capital has opened the public issue and sale of units of its mutual fund scheme, Machhapuchhre SIP Yojana, starting today (Mangsir 14).

The company is offering 2 crore units worth Rs. 20 crore, at a face value of Rs. 10 per unit. The scheme operates under MBL Mutual Fund and is an open-ended fund.

The total size of the scheme is 5 crore units, of which 14% (70 lakh units) are reserved for the fund promoter, Machhapuchhre Bank, and 1% (5 lakh units) for the scheme manager, Machhapuchhre Capital. The general public can apply for 1 crore 25 lakh units.

Applications for the units can be submitted until Mangsir 17. If all units are not sold within this period, the deadline will be extended until Mangsir 28, according to Machhapuchhre Capital.

Machhapuchhre Capital Limited is the issue and sales manager for the scheme. Investors can apply for the units through ASBA-approved banks and financial institutions and their designated branches after receiving approval from the Securities Board. Applications can also be submitted online via the Mero Share platform using the C-ASBA system.

In the credit rating process conducted for the mutual fund issuance, CARE Ratings Nepal awarded the fund promoter the rating CARE-NP Triple B Plus (Issuer Rating), while Infomerics Credit Rating Nepal assigned the scheme manager the rating IRN AMC Quality 3.