Nabil Balance Fund II, managed by Nabil Investment Banking Limited and sponsored by Nabil Bank Limited had floated public issue of 12 crore units mutual fund scheme worth Rs 1.2 arba from Baisakh 5, 2076. The mutual fund had issued a total of 12 crore unit of ordinary shares worth Rs 1.20 arba at face value of Rs 10 per unit.
Nabil Balance Fund II is the Nabil Investment Banking Limited third mutual fund scheme, and is a 10-years closed-end fund. The scheme will be managed by Nabil Investment Banking Limited with Nabil Bank Limited as the fund sponsor. Under the current mutual fund regulation, 15% units i.e. 1.80 crore units are reserved for fund manager and fund sponsor. Remaining 10.20 crore units will be floated to the general public.
As per the issue manager, Nabil Investment, the issue has received a total of 34,141 application applying for 10 crore 42 lakh 26 thousand 730 units. However, a total of 1043 applicants applying for 1 crore 39 lakh 39 thousand 970 units were invalid and thus have been rejected.
The remaining 33,098 applicants have been allotted 9 crore 39 lakh 39 thousand 970 excluding the seed fund. Therefore, the fund manager will be adding additional capital for 60,030 units as seed fund, bringing the size of fund to Rs 1.12 arba.