Garima Mutual Fund allots Rs 1.25 billion units for Garima Samriddhi Yojana

KATHMANDU: Garima Capital Limited, in collaboration with Garima Bikas Bank Limited as the fund promoter, recently completed the public issuance and allotment of the “Garima Samriddhi Yojana,” a close-ended scheme under the Garima Mutual Fund.

The scheme offered 10,00,00,000 (10 million) units at a face value of Rs 10 each, with an initial capital of Rs 1 billion.

The public issuance took place from Dec 22 to 26, 2024 (2079/09/07 to 2079/09/11, as per the Nepali calendar).

During this period, 94,681 applicants submitted valid applications requesting a total of 12,18,78,510 units.

As the demand exceeded the issued units, the fund invoked provisions under the “Collective Investment Fund Guidelines, 2069,” allowing an increase in the scheme’s size by up to 25%.

Subsequently, on Jan 2, the allocation of units was conducted at 9:00 AM at the office of the issue and sales manager, NIMB Ace Capital Limited, Lazimpat, Kathmandu.

The scheme’s size was finalized at Rs 1.25 billion, or 12,50,00,000 units, including the initial capital.

This successful allotment marks a significant milestone in Nepal’s mutual fund sector, reflecting growing investor interest and confidence in professionally managed investment schemes.