Closing day of public issue of 1.25 crore units open ended NIBL Sahabhagita fund; investors can apply minimum of Rs 1000

Mon, Jul 1, 2019 6:34 AM on Latest, Mutual Fund,

NIBL Sahabhagita Fund, managed by NIBL Ace Capital Limited and sponsored by Nepal Investment Bank Limited is closing the public issue of 1.25 crore units mutual fund scheme worth Rs 12.50 crore from today (Ashad 16, 2076).

NIBL Sahabhagita Fund is a first open ended mutual fund after the implementation of Mutual Fund Regulation, 2067 by Securities Board of Nepal (SEBON). 

This fund is issuing a maximum 5 crore units worth Rs 50 crore at face value of Rs 10 per unit. Initially at first stage, the fund will be issuing only 1.25 crore units worth Rs 12.5 crore to general public and 15% of total fund i.e. 75 lakhs units worth Rs 7.5 crore is reserved to fund sponsor NIB Bank and fund manager NIBL ACE Capital Limited as a seed capital.

Interested people must apply for a minimum of 100 units and they can apply for maximum 2.5 lakh units. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country.

NIBL Sahabhagita Fund  is the NIBL Ace Capital Limited third mutual fund scheme, and is first open-ended fund. This fund is not tradable at Nepal Stock Exchange like other close ended fund and has no fixed maturity period and can be bought/sold directly from/to fund sponsor or fund manager.