LS Horizon 12 Mutual Fund Scheme Closes Today Due to Oversubscription

The public subscription window for 'LS Horizon 12', a mutual fund scheme launched by Laxmi Sunrise Capital on Baisakh 30, is officially closing today, Jestha 6, at the end of banking hours. Although the fund manager had initially provisioned an extended deadline up to Jestha 13, the issuance is being wrapped up early due to the scheme being heavily oversubscribed beyond its target volume. Operating under the Laxmi Sunrise Mutual Fund umbrella, this 12-year closed-ended scheme offered 120 million units at a par value of Rs 10 per unit, aiming to accumulate a total fund size of Rs 1.2 billion. Out of the total volume, 18 million units were reserved as seed capital for the fund sponsor, Laxmi Sunrise Bank Limited, while the remaining 102 million units were allocated for general public subscription, allowing individual investment limits ranging from a minimum of 100 units to a maximum of 12 million units. Laxmi Sunrise Capital Limited is steering this fund issuance as the issue and sales manager. Eligible retail investors can submit their final applications via the online 'Mero Share' portal or through any SEBON-authorized C-ASBA member banks and financial institutions. For this offering, Care Ratings Nepal has assigned a 'CARE-NP BBB+' issuer rating to the fund sponsor and a 'CARE-NP AMC Quality 3+' rating to the fund management company.