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Muktinath Capital to Launch Rs. 1 Billion Muktinath Mutual Fund 2

Muktinath Capital Limited is set to issue 100 million units of its second mutual fund, Muktinath Mutual Fund-II, worth Rs. 1 billion.

Published By Share Gyan
Muktinath Capital to Launch Rs. 1 Billion Muktinath Mutual Fund 2

Muktinath Capital Limited is preparing to launch its second mutual fund, Muktinath Mutual Fund-II, with a total size of Rs. 1 billion. The closed-ended fund will issue 100 million units at a face value of Rs. 10 per unit. Of the total units, 13% of the units sold, equivalent to 13 million units, will be reserved for the scheme promoter Muktinath Development Bank, while 2 million units will be allocated to the fund manager, Muktinath Capital. The remaining 85 million units will be offered to the general public. Applications will open from Ashoj 1, with investors required to apply for a minimum of 100 units and a maximum of 10 million units. The issue will remain open until Ashoj 6 and may be extended until Ashoj 15 if sufficient applications are not received. The fund can proceed with allotment if applications are received for at least 50% of the total issue, or 50 million units. If the minimum subscription requirement is not met, the scheme will be cancelled and the application money will be refunded within 15 days. The fund will have a tenure of 10 years, and investors can apply through ASBA-authorized banks and financial institutions as well as the Mero Share website and mobile application. Muktinath Capital is also acting as the issue and sales manager for the fund.

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