Banking News – Muktinath Capital Limited is set to issue units of the new closed-end mutual fund scheme “Muktinath Mutual Fund–2” starting from Bhadau 17.

The total size of the scheme, to be operated under Muktinath Mutual Fund, is Rs 1 arab. The scheme will issue 10 crore units at a face value of Rs 10 per unit.

Among the total issuance, 1 crore 50 lakh units have been allocated for the scheme promoter, Muktinath Development Bank, while 20 lakh units have been reserved for the scheme manager, Muktinath Capital. The remaining 8 crore 50 lakh units will be issued to the general public.

Investors can apply for a minimum of 100 units up to a maximum of 1 crore units for purchasing units. The initial deadline for applications is set for Bhadau 22. If sufficient applications are not received within that period, the issuance period will remain open until Bhadau 30 at the latest.

The tenure of “Muktinath Mutual Fund–2” will be 10 years. The Securities Board of Nepal (SEBON) had granted approval to Muktinath Capital for operating the scheme on Bhadau 10. Muktinath Capital Limited will collect Rs 85 crore from the general public through this scheme.