Kathmandu. Reliable Capital Investment & Merchant Limited is going to issue units of mutual investment fund Reliable Samriddhi Yojana 2 from May 12. The company is going to sell 100 million units worth Rs 1 billion at a face value of Rs 10 per unit.
The scheme, which will be operated under the Reliable Mutual Fund, is a 10-year closed-ended scheme. Out of 15 percent of the total 10 crore units, i.e. 1.5 crore units, 14 percent i.e. 1.4 crore units will be sold to the fund promoter Reliable Nepal Life Insurance Limited and 1 percent i.e. 10 lakh units will be reserved to the scheme manager and the remaining 8.5 crore units will be sold to the general public. A minimum of 100 to 1 crore units can be applied for the fund.
Credit rating agency CARE Rating Nepal has assigned Care NP Single A Minus Issuer rating to the fund promoter and Care NP AMC Quality 4 Plus rating to the scheme manager.
Applications for units of the fund can be made till May 1. If all the units are not sold by that time, the application can be made till May 26.
Reliable Investment and Merchant Capital Limited has been appointed as the issue manager for the IPO issuance.
Investors can apply for the fund from all ASBA member banks and financial institutions and their designated branch offices approved by the Securities Board. In addition, they can also apply through the C-ASBA system using the software ‘My Share’ developed by CDS and Clearing Limited.
