Sanima Equity Fund 2 IPO: Closing Today!
The public issue of 'Sanima Equity Fund 2', a 10-year closed-ended mutual fund scheme managed by Sanima Capital, is closing today ahead of schedule. Out of the total 100 million units issued at a face value of Rs. 10 per unit, 85 million units were made available to the general public, drawing massive investor interest that led to an early closure.
Sanima Capital Limited opened the subscription for the "Sanima Equity Fund 2" on May 7 (Baisakh 24) with an issue size of 100 million units, valued at Rs. 1 billion with a face value of Rs. 10 per unit. Operating under the Sanima Mutual Fund umbrella, this is a 10-year closed-ended scheme. Out of the total issued units, 15% (15 million units) have been reserved for the institutional stakeholders. Specifically, 13% (13 million units) are allocated to the fund sponsor, Sanima Bank Limited, while 2% (2 million units) are secured for the fund manager, Sanima Capital Limited. The remaining 85 million units were opened to general investors, who could apply for a minimum of 100 units up to a maximum of 10 million units. Investors can cast their applications until the close of banking hours today through the 'Mero Share' software or via C-ASBA verified commercial banks and financial institutions licensed by the Securities Board of Nepal (SEBON). Sanima Capital Limited is acting as the issue and sales manager for the fund. In terms of credit ratings, Care Rating Nepal has assigned a 'CARE-NP Single A Minus (Is)' rating to the fund sponsor, Sanima Bank, while ICRA Nepal has graded the fund manager, Sanima Capital, with an 'ICRANP AMC Quality 3+' rating, indicating a stable track record and reliable management capabilities.