Garima Subarna Yojana Receives SEBON Approval for Public Issuance
Summary
Garima Development Bank Limited and Garima Capital Limited have received SEBON approval to publicly issue Garima Subarna Yojana, an open-ended mutual fund scheme, aiming to raise Rs. 1 Arba.
Key Points
- Garima Development Bank Limited and Garima Capital Limited received approval from SEBON for public issuance of Garima Subarna Yojana.
- Garima Subarna Yojana is the first open-ended scheme under Garima Mutual Fund with a total size of Rs. 1 Arba.
- The initial phase offers 5 crore units at Rs. 10 per unit with a minimum sale target of 50%.
- Units will be tradable through the fund manager’s online system but not listed on the stock exchange.
