Unit Sale of Garima Suvarna Yojana to Open from Falgun 28

The unit sale of ‘Garima Suvarna Yojana’, a scheme operated under Garima Mutual Fund, is set to open from Falgun 28. The scheme is promoted by Garima Bikas Bank Limited, while Garima Capital Limited has been appointed as the fund manager and issue manager.

Under the scheme, a total of 100 million (10 crore) units will be issued. Out of the total units, 6 million units have been reserved as seed capital for the fund manager, Garima Capital Limited, and 9 million units have been allocated to the fund promoter, Garima Bikas Bank Limited. The remaining 35 million units will be offered to the general public.

In the first phase, 50 million units will be opened for public subscription. After the completion of the initial offering, continuous purchase and sale of units will be conducted through distributors appointed by the fund manager, in accordance with the Mutual Fund Regulations. The scheme aims to provide investors with an opportunity for structured and long-term investment in the capital market.

Investors will be allowed to apply for a minimum of 100 units and a maximum of 5 million units. Applications can be submitted through ASBA member banks and financial institutions authorized by the Securities Board of Nepal.

The unit sale will close at the earliest on Chaitra 2 and at the latest on Chaitra 12, after banking hours. The scheme received approval for issuance from the Securities Board on Magh 21.

The launch of Garima Suvarna Yojana is expected to expand investment options in Nepal’s mutual fund sector and provide investors with a professionally managed collective investment opportunity.