Garima Capital Limited is opening the “Garima Subarna Yojana,” a non-closed mutual fund. The subscription will commence today, the 28th of Falgun, and will conclude on the 2nd of Chaitra, 2082. If the target is not fully reached by the early closing date, the period may be extended until Chaitra 12.
Out of a total of 10 crore unit shares, 15%, equivalent to 15 crores units valued at Rs. 1,50,00,000, have been set aside (6%, or 60 lakh units worth Rs. 60 crores, have been designated for the scheme manager, Garima Capital Limited, and 9%, or 90 lakh units valued at Rs. 90 crores, have been allocated to the fund sponsor, Garima Bikas Bank Limited). However, for the initial public offering, 5 crore units totalling Rs. 50 crore will be available for purchase.
The remaining 3.50 crore units, amounting to Rs 35 crores, will be distributed to the general public and institutions. As it is a non-closed mutual fund, the additional units will be continuously available for buying and selling according to the distribution established by the scheme manager in accordance with the regulations of the Collective Investment Fund.
“Garima Subarna Yojana” is a non-closed fund. Interested applicants may subscribe for a minimum of 100 units up to a maximum of 50,00,000 units.
