Citizens Mutual Fund’s open-ended scheme, “Citizens Sadabahar Scheme,” is set to open for public subscription starting Friday, Asar 13. Citizens Bank International Limited is the fund promoter, while Citizens Capital Limited is responsible for scheme management and depository services.
Under this scheme, 5 crore units will be issued at a face value of Rs. 10 per unit. Of these, 15 percent (75 lakh units) will be reserved for Citizens Bank, and the remaining 4 crore 25 lakh units will be available for public subscription
Investors can apply for a minimum of 100 units up to a maximum of 50 lakh units. The subscription will remain open from Asar 13 and will close no earlier than Asar 17 and no later than Asar 27. If applications fall short of 2 crore 50 lakh units by the deadline, the scheme will be canceled, and investors will be refunded. In case of oversubscription, an additional 25 percent units may be issued, increasing the maximum allocation to 6 crore 25 lakh units.
As an open-ended scheme, there is no fixed maturity period. Trading of units will begin three months after the allotment. However, since the securities will not be listed on the secondary market, transactions can be made only through authorized distributors.
This article was originally published on bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
