Siddhartha Capital has announced an extension of the application deadline for its latest mutual fund scheme, Siddhartha Equity Fund 2, which originally opened for subscription on May 4, 2023. Investors now have until May 18, 2023, to apply for the units. However, the capital noted that the issue may close earlier if it becomes oversubscribed before the new deadline.
The scheme is issuing 100 million units at a par value of Rs 10 per unit, totaling a fund size of Rs 1 billion. Operating under the Siddhartha Mutual Fund, this is a 12-year closed-ended scheme. Out of the total units, 15% (15 million units) are reserved for the fund sponsor, Siddhartha Bank Limited, while the remaining 85 million units are available to the general public.
Interested investors can apply for a minimum of 100 units up to a maximum of 10 million units. Applications can be submitted through C-ASBA-approved banks and financial institutions or online via the 'Mero Share' portal. Regarding credit ratings, ICRA Nepal has assigned an 'ICRANP-IR BBB+' issuer rating to Siddhartha Bank and an 'ICRANP AMC Quality 3+' rating to Siddhartha Capital as the fund manager.
