Muktinath Mutual Fund 2 Extends IPO Deadline to Ashoj 15

Muktinath Capital Limited has extended the application period for its second mutual fund, Muktinath Mutual Fund 2. The issue, which opened on Ashoj 1, will now remain open for investors until Ashoj 15, unless it is closed earlier due to full subscription. The capital has issued 10 crore units worth Rs. 1 arba at a face value of Rs. 10 per unit. Of the total units, 13% of the units sold, equivalent to 1.30 crore units, have been reserved for the fund promoter Muktinath Bikas Bank, while 20 lakh units are reserved for Muktinath Capital, the fund manager. The remaining 8.50 crore units are available to the general public. Investors can apply for a minimum of 100 units and a maximum of 1 crore units. If applications are received for at least 50% of the total issue, equivalent to 5 crore units, within the issue period, the units can be allotted to applicants. If the minimum required number of units is not subscribed, the scheme will be cancelled and the refund process will be initiated within 15 days. Muktinath Mutual Fund 2 is a closed-end mutual fund with a 10-year maturity period. Investors can apply through ASBA-enabled banks and financial institutions as well as through Mero Share’s website and mobile application. Muktinath Capital is the issue and sales manager for the fund.