Kathmandu. The deadline for applying for the purchase of units of Citizens Sadabahar Yojana operated under Citizens Mutual Fund has been extended.
The scheme was put on sale on June 15. It was said that the issue of units of this scheme would be closed at the earliest after the banking hours on June 15. However, due to lack of adequate applications, the issue period has been extended till The Banking Period on July 15.
Out of the total 50 million units at a face value of Rs 10 under the scheme, a minimum of 7.5 million units for seed capital or a minimum of 15 per cent of the total number of units sold have been reserved for fund promoter Citizens Bank International. The general public can apply for the remaining 42.5 million units.
According to the scheme manager Citizen Capital, investors can apply for a minimum of 100 units and a maximum of 5 million units under the scheme. Applications can be made from the banks and financial institutions participating in the C-ASWA service approved by the Securities Board of Nepal and their designated branches and my share of CDSC.
The Securities Board of Nepal had given permission to sell the units of this open-ended scheme on July 15.
