Collection of Citizens Mutual Fund-2 stands at Rs.24 Crore as per the latest data; almost 12 thousand applications received

Citizens Mutual Fund-2 (CMF II), managed by CBIL Capital Limited and sponsored by Citizens Bank International Limited is floating its public issue of 10 crore units mutual fund scheme worth Rs 1 arba from Jestha 9, 2076.

As per the CBIL Capital Limited, the issue received applications from 11,870 applicants with total collection of Rs 24 Crore till 2.30 PM today. This means now this issue will be extended up to Asadh 8, 2076.

Citizens Mutual Fund 2 is the CBIL Capital Limited second mutual fund scheme, and is a 7-years closed-end fund. Under the current mutual fund regulation, 15% units i.e. 1.50 crore units are reserved for fund manager and fund sponsor. Remaining 8.5 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 2 crore units. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country.

ICRA Nepal assigns the rating of [ICRANP-IR] BBB+ (pronounced ICRA NP issuer rating triple B plus) assigned to CZBIL. [ICRANP-IR] BBB+ ratings are considered to be of moderate credit quality. The rated entity carries higher-than-average credit risk. The rating is only an opinion on the general creditworthiness of the rated entity and is not specific to any particular debt instrument.