Kathmandu. The deadline for applying for the purchase of the unit of Prabhu Systematic Investment Scheme has been extended.
Applications were opened in the units of this mutual fund from June 1. It was said that the issue of this open-ended scheme would be closed at the earliest on June 15. However, due to lack of adequate applications, the period of expulsion has been extended till June 15.
The Securities Board of Nepal has given permission to open the sale of units worth Rs 400 million under prabhu mutual fund. A total of 40 million units will be issued at a face value of Rs 10.
Of the total units, 3 million units comprising 7.5 per cent have been reserved for fund promoter Prabhu Bank and 7.5 per cent for 3 million units for scheme manager Prabhu Capital. For the first time, 25 million units have been opened for sale to the general public.
Under this scheme, investors can apply for a minimum of 100 units and a maximum of 3.1 million units. Investors can apply from banks and financial institutions licensed by the Securities Board of Nepal and their designated branches. I can also apply for a purchase from my shares of CDSC.
Credit rating company ICRA Nepal has awarded ICRANP Issuer Rating Triple B minus to the fund promoter while CARE Rating Nepal has given CARE NP AMC Quality 3 Plus rating to the plan manager.
