SEBON Approves Rs. 2.20 Billion Unit Issuance for Siddhartha SIP
The Securities Board of Nepal (SEBON) has approved Siddhartha Systematic Investment Plan (SIP) to issue 22 crore units worth Rs. 2.20 billion to the public.
The Securities Board of Nepal (SEBON) has granted approval to Siddhartha Systematic Investment Plan (SIP) to issue units worth Rs. 2.20 billion.
Following the approval, the scheme will issue a total of 22 crore units with a face value of Rs. 10 each to the general public. The issuance marks the first phase of the fund's planned capital mobilization.
The scheme has already applied to SEBON for the issuance of a total of 50 crore units. The remaining units will be issued in phases after obtaining the necessary regulatory approvals.
Operating under Siddhartha Mutual Fund, the scheme is promoted by Siddhartha Bank, while Siddhartha Capital has been appointed as the fund manager. The SIP aims to encourage disciplined long-term investing and provide investors with an accessible wealth creation platform.