Almost 9000 applicants apply for NMB 50; total collection till yesterday stands at Rs.43 Crore

Fri, Aug 9, 2019 1:24 PM on IPO/FPO News, Latest, Mutual Fund,
Almost 900...

NMB 50, managed by NMB Capital Limited and sponsored by NMB Bank Limited is floating its public issue of 12 crore units mutual fund scheme worth Rs 1.2 arba from Shrawan 13, 2076.

The early closing date of this mutual fund issue was on Shrawan 16, 2076. Since, the issue was not fully subscribed, it has been extended up to Bhadra 10, 2076.

As per the issue manager, the issue received 8,900 applicants applying for a total of 4.30 crore units with total collection of Rs.43 Crore, till yesterday. Around 42% of the issue has been subscribed.

NMB 50 is the NMB Capital Limited third mutual fund scheme, and is a 7-years closed-end fund which will be listed on NEPSE for trading. 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.

Interested people must apply for a minimum of 100 units and they can apply for maximum 1.2 crore units. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country.

NMB Capital Limited is a subsidiary of NMB Bank Limited licensed by SEBON to provide merchant banking, issue management, corporate advisory, underwriting and mutual fund services.

NMB Capital Limited has already issued 2 mutual funds i.e. NMB Sulav Investment Fund 1 which is a 5 years close ended fund with issue size of Rs 75 crore and its latest NAV is Rs 11.89 and NMB Hybrid Fund L -1 which is a 7 years close ended fund with issue size of Rs 100 crore and its latest NAV is Rs 10.98.