Kumari Capital Limited recently launched its latest closed-end mutual fund, the “Kumari Sabal Yojana,” with a total value of Rs 1 Arba. The subscription period for this fund began on the 28th of Magh and concluded on the 13th of Falgun, 2080. The allotment process, conducted at Kumari Capital’s premises in Naxal, was finalized on the 16th of Falgun at 10 AM.
Out of the total 10 crore unit shares, the scheme manager Kumari Capital Limited was allocated 10 lakh units worth Rs. 1 crore, while the fund sponsor Kumari Bank Limited received 1.4 crore units, representing 14% and valued at Rs. 14 crore. The remaining 8.5 crore units, amounting to Rs 85 crore, were issued to the general public.
According to Kumari Capital, they received a total of 29,160 applications, and after careful scrutiny, 29,134 valid applicants were successfully allotted the issued units. Unfortunately, 26 applications were rejected due to the identification of duplicate submissions during the verification process.
For those whose applications were rejected, the fund manager emphasizes the importance of adhering to application guidelines in future investment opportunities to ensure a smooth and successful process.
Currently managing two closed-end funds, Kumari Equity Fund (KEF), and Kumari Dhanabriddhi Yojana (KDBY), along with one open-end fund, Kumari Sunaulo Lagani Yojana (KSLY), Kumari Capital Limited strengthens its diverse portfolio in the market with the successful introduction of the “Kumari Sabal Yojana.”