Public Issue of Reliable Samriddhi Yojana-2 Mutual Fund Closing Today Due to Oversubscription
The public issue of “Reliable Samriddhi Yojana-2” mutual fund scheme is closing today after receiving strong investor demand and oversubscription, according to Reliable Investment and Merchant Capital Limited.
Reliable Investment and Merchant Capital Limited has announced the closure of its mutual fund scheme “Reliable Samriddhi Yojana-2” for the general public today, Jestha 8, 2082.
The issue, which was initially opened on Baishakh 29, 2083, was earlier scheduled to remain open until Jestha 12, 2083. However, it is closing ahead of schedule due to oversubscription.
Out of a total of 10 crore unit shares, 14% (1.4 crore units worth Rs. 14 crore) have been allocated to the scheme manager, Reliable Nepal Life Insurance Limited. Similarly, 1% (10 lakh units worth Rs. 1 crore) has been allocated to the fund sponsor, Reliable Investment and Merchant Capital Limited.
The remaining 8.5 crore units worth Rs. 85 crore were offered to the general public and institutional investors.
According to CDSC data, a total of 66,799 applicants have applied for 10,59,11,270 units worth around Rs. 1.05 billion so far.
“Reliable Samriddhi Yojana-2” is a closed-ended mutual fund scheme. Investors were allowed to apply for a minimum of 100 units and a maximum of up to 1,00,00,000 units.