The Securities Board of Nepal (SEBON) has listed Reliable Samriddhi Yojana, a closed-end mutual fund, in its preliminary review pipeline. Reliable Investment and Merchant Capital Limited applied an application on Mangsir 12 to make the fund’s shares available to the public.
Key Details of the Fund
- Total Fund Size: Rs. 1 Arba
- Total Units: 10 Crore
- Price per Unit: Rs. 10
Reliable Samriddhi Yojana is planning to issue a fund size of Rs. 1 Arba divided into 10 Crore units, having a par value of Rs. 10 per unit.
Management and Ownership
This fund is managed by Reliable Investment and Merchant Capital Limited, which is fully owned by Reliable Nepal Life Insurance Limited. Out of the total 10 Crore units, 1.5 Crore units (15%) will be held by the promoter, Reliable Investment and Merchant Capital Limited. Once SEBON approves the application, the shares will be opened to the public and can be traded in Nepal’s share market.