Kathmandu. Laxmi Sunrise Capital Limited has opened the IPO for the IPO on May 12. Applications for the purchase of units can be submitted till May 26. However, if the applications exceed the demand, the issue and sale will be stopped before then.
The company is issuing 120 million units at a face value of Rs 10 per unit. Out of the total 120 million units, 1.8 crore units have been reserved to fund promoter Laxmi Sunrise Bank Limited and the remaining 10.20 crore units have been issued to the general public. Applications can be made from a minimum of 100 to 12 million units.
Laxmi Sunrise Capital Limited has been appointed as the issue manager for the IPO issuance. The scheme, which is operated under the Laxmi Sunrise Mutual Fund, is a 12-year closed-oriented scheme.
Interested bidders can apply for the units from all ASBA member banks and financial institutions approved by the Securities Board of India (SEBON) and their designated branches. In addition to this, the applicants can also apply through C-ASBA system using ‘Mero Share’ software developed by CDS and Clearing Limited.
Credit rating agency CARE Rating Nepal has assigned CARE NP Triple B Plus Issue Rating to the fund promoter and CARE NP AMC Quality 3 Plus rating to the scheme manager.
