Last day to grab public issue worth Rs 1 arba of Nabil Equity Fund; collected Rs 2.70 arba from 17,000 applicant till third day ;oversubscribed by 2.7 times

Nabil Equity Fund has been floating its public issue of 10 crore unit worth Rs 1 arba from Ashwin 2, 2073. Today is the last day of the public issue according the notice published by the company. The issue has already been oversubscribed by 2.7 times till third day. Nabil Equity Fund is basically a 7 years closed-end mutual fund scheme. The mutual fund scheme will be managed by Nabil Investment Banking Limited, a wholly owned subsidiary of Nabil Bank. As per the official of Nabil Investment Banking Limited, “The total collection of the public issue has reached to Rs 2 arba 70 crore till third day. Around 17,000 application forms were received.’ The offer closes today (Ashwin 6, 2073) at the earliest. The maximum closing date for the offer is Ashwin 16, 2073. Interested people must apply for a minimum of 100 units of share and they can apply for up to    1, 00, 00,000 unit of shares. The mutual fund company is issuing a total of 10 crore units worth Rs 1 arba at face value of Rs 10. Of the total units of share floated 15% has been set aside for Nabil Bank Limited and Nabil Investment Banking Limited. Of the 15 percent shares, the company has  allocated 14% for Nabil Bank Limited i.e. 1.40 crore unit shares and 1% for the Nabil Investment Banking  Limited i.e. 10 lakhs  unit  shares and remaining 8 crore 50 lakhs units for general public. The issue manager for the public issue is Nabil Investment Banking Limited. Nabil Bank has its first mutual fund scheme, Nabil Banlance Fund-1 (NBF-1), listed in NEPSE.  The current Net Asset Value of NBF-1-1 is at Rs 28.22 as on the report based on Shrawan end.