Today, 7th Chaitra, 2081, Machhapuchchhre Capital Limited is wrapping up the offering of its mutual fund scheme “MBL Equity Fund” to the public. The offering commenced on the 22nd Falgun, 2081, with an original closing date set for the 26th Falgun, 2081. However, due to insufficient applications received by the issue manager, the closing date has been extended until today.
Of the total 12 crore unit shares, 1%—or 12 lakh units valued at Rs. 1.2 crore—have been designated for Machhapuchchhre Capital Limited, the scheme manager, while 14%, equivalent to 1,68,00,000 units worth Rs. 16.80 crores, have been allocated to the fund sponsor, Machhapuchchhre Bank Limited. The balance of 10,20,00,000 units, valued at Rs 1.02 Arba, will be made available to the general public and institutions.
As per the CDSC, a total of 57,153 applicants have submitted applications for 10,96,87,140 units, amounting to Rs. 1.09 Arba, as of 5 p.m. yesterday.
The MBL Equity Fund operates as a closed-ended scheme. Applicants may submit requests for a minimum of 100 units and a maximum of 1,20,00,000 units.
This marks the first mutual fund scheme to be managed by Machhapuchchhre Capital Limited.
