Citizen Mutual Fund public issue collects Rs 55 crore from 13,000 applicants till first hour today; NIC Asia Growth Fund collects Rs 50 crore from 12,000 applicants till yesterday

Citizens Mutual Fund – 1 and NIC Asia Growth Fund has extended the date of public issue as the issue amount is still not subscribed by the general public. As per an official of both issue manager, they will close the public issue at any time by publishing notice if the amount are fully subscribed. Citizen Mutual Fund-1 has been floating its public issue of 10 crore unit shares worth Rs 1 arba from Magh 2, 2074. The earliest closing date was set on Magh 7, 2074. The maximum closing date for the offer is Magh 21, 2074. As per Anuj Dulal, Head of Merchant Banking of CBIL Capital, “The total collection of the public issue has reached to Rs 55 crore approximately  till the first hour today. Around 13,000 application forms were received.” The mutual fund is issuing a total of 10 crore unit of ordinary shares worth Rs 1 arba at face value of Rs 10 per unit. Securities Board of Nepal (SEBON) had provided final nod to the public issue of Citizens Mutual Fund on Poush 18, 2074. Interested people must apply for a minimum of 100 units of share and they can apply for up to 20,00,000 unit of shares. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country. Citizen Mutual Fund is CBIL Capital’s first mutual fund scheme, and is a 7-years closed-end fund. The scheme will be managed by CBIL Capital Limited with Citizens Bank International Limited (CZBIL) as the fund sponsor. Under the current regulation, 15% units i.e. 1.50 crore units are reserved for CZBIL and CBIL Capital. Remaining 8.50 crore units will be floated to the public. CBIL Capital is a 100% subsidiary of Citizens Bank licensed by SEBON to provide merchant banking, issue management and fund management services. CBIL Capital Limited is the fund manager and Citizens Bank is the fund sponsor of this scheme. Offer Letter NIC Asia Growth Fund has also been floating its public issue of 10 crore unit shares worth Rs 1 arba from Magh 2, 2074. The earliest closing date has been set today (Magh 8, 2074). The maximum closing date for the offer is Magh 21, 2074. As per Suday Kant Jha, Chief Investment Officer of NIC Asia Capital, “The total collection of the public issue has reached to Rs 50 crore approximately till yesterday. Around 12,000 application forms were received. The mutual fund is issuing a total of 10 crore unit of ordinary shares worth Rs 1 arba at face value of Rs 10 per unit. Securities Board of Nepal (SEBON) had provided final nod to the public issue of NIC Asia Growth Fund on Poush 11, 2074. Interested people must apply for a minimum of 100 units of share and they can apply for up to 20,00,000 unit of shares. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country. NIC Asia Growth Fund is NIC Asia Capital’s first mutual fund scheme, and is a 7-years closed-end fund. The scheme will be managed by NIC Asia Capital Limited with NIC Asia Bank Limited (NICA) as the fund sponsor. Under the current regulation, 15% units i.e. 1.50 crore units are reserved for NIC Asia Bank and NIC Asia Capital. Remaining 8.50 crore units will be floated to the public. NIC Asia Capital Limited is a 100% subsidiary of NIC Asia Bank licensed by SEBON to provide merchant banking, issue management and fund management services. Currently, there are 12 mutual fund schemes in the market, out of which 11 are also listed in Nepal Stock Exchange. NIC Asia Growth Fund is the third mutual fund scheme after Siddhartha Equity Fund and Sanima Equity Fund to get approval for public issue in the ongoing FY 2074/75. Offer Letter: Also See: Know why upcoming NIC Asia and Citizens Mutual Fund schemes are better than parking your money into Fixed Deposit accounts See the list of ASBA member BFIs