KATHMANDU: Sanima Capital is issuing a close ended mutual fund initial public offerings (IPO) for the second time today (Friday).

Issusing a press release, Sanima capital has said “Sanima Large Cap Fund” is opening for applications for 100 million units of mutual fund worth Rs one billion starting today.

The period of the close ended mutual fund will remain seven years. The deadline for applications is until coming Tuesday.

Willing applicants can apply for minimum 100 units of fund to maximum 10 million units of mutual fund for Rs 10 per unit of fund.

Sanima Bank is the manager of this fund.

Like IPO, applicants can apply through the banks linked with their demat accounts or via mero share accounts online.

Unlike ordinary shares, this fund will distribute cash bonus based on the profits during the period and the accumulated fund will be distributed only after seven years to all shareholders by selling all its movable and non-moveable assets.

Given the 1.5 million applicants for IPO of ordinary shares in the current share market, the close ended mutual fund could also be an attraction for the people in general, said the company.