Kathmandu. Muktinath Capital Limited has extended the deadline to apply for the second mutual fund, which opened the issue and sale from September 1. The application for the purchase of units of Muktinath Mutual Fund 2, which has opened the issue by Capital, can now be applied till September 30. However, if the application is more than the demand, it will be closed before that period.
The company has issued 100 million units worth Rs 1 billion at a face value of Rs 10 per unit. Out of the total number of units, 13 percent or 1.3 crore units have been allocated to the fund promoter Muktinath Bikas Bank and 2 million units to Muktinath Capital Limited, the project manager company, and the remaining 8.5 crore units have been sold to the general public.
The interested investors can apply for a minimum of 100 units and a maximum of 10 million units.
The sale of the fund operating under the Muktinath Mutual Fund will be done if an application is received to buy at least 50 percent i.e. 5 crore units within the extended period of the application and the board can allot the units. And if the minimum number of units are not sold, the plan will be cancelled and the payment process will be started to refund the amount of the applicants within 15 days.
Muktinath Capital Limited has been appointed as the issue manager for the issue and sale of the fund. Investors can apply for the 10-year unit of the fund through all banks and financial institutions with assurance permission from the Securities Board of India and also through the Mero Share web and app. This is a closed-end scheme.
