"Mega Mutual Fund 1" Now Listed in NEPSE

12.5 crore units of "Mega Mutual Fund 1" have been listed in NEPSE.

The public issue of "Mega Mutual Fund 1" was recently allotted to applicants. The issue had opened on 4th Bhadra and closed on 10th Bhadra, 2078, at the end of banking hours.

"Mega Mutual Fund 1" is a closed-end fund, meaning it can be traded in NEPSE. The fund has a maturity period of 10 years. 10 crore units were issued at a par value of Rs. 10 per unit. 15% of the total units were allocated to the fund promoter Mega Bank. Mega Capital itself was the issue manager. According to the issue manager, 1,63,646 applicants applied for a total of 20,14,55,600 units. The issue was oversubscribed more than 2.37 times. Thus, the fund was resized to 125% of its initial size, given the oversubscription.

Furthermore, the mutual fund issue also broke the previous record for the highest number of applicants received so far (for a mutual fund issue). The shareholding ratio is now 61: 39, with 61% being owned by the general public.

1,55,864 applicants that applied from 100 units to 3.5 lakh units have got the quantity they demanded. Meanwhile, 34 applicants that applied for 5 lakh to 1 crore units have been allotted 4,36,330 units. The remaining 290 units were also equally allotted (10 units each) to 29 applicants of this category via a lottery.