Kathmandu. The ‘LS Horizon 12’ scheme managed by Laxmi Sunrise Capital Limited has attracted a lot of investors. According to the company, the unit sale application of the scheme has been closed before the scheduled time due to more applications than the demand.

Laxmi Sunrise Bank Limited is the fund promoter and Laxmi Sunrise Capital Limited is the scheme manager. However, the application process has been closed from today after more than Rs 1.5 billion was received within six working days of the sale.

Out of the total offered share, 1.80 crore units have been reserved for Laxmi Sunrise Bank and the remaining 10.20 crore units have been set aside for the general investors.

Applications can be place for minimum 100 units and maximum 1.20 crore units. The applications were collected from ASBA Service Center of banks and financial institutions approved by the Securities Board of Nepal (SEBON). According to the company, the enthusiastic participation received over the project in a short period indicates that investors’ confidence in the Nepali capital market is becoming stronger.

Laxmi Sunrise Capital Limited has also been appointed as the issue manager for the IPO issuance.