More than 11 thousand applicants apply for a stake in NIBL Sahabhagita Fund; subscription received for 87.52 Lakh units

Tue, Jun 18, 2019 5:12 PM on Latest, Mutual Fund,
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NIBL Sahabhagita Fund, managed by NIBL Ace Capital Limited and sponsored by Nepal Investment Bank Limited is floating its public issue of 1.25 crore units mutual fund scheme worth Rs 12.50 crore from Jestha 19, 2076. The early closing date of this mutual fund issue was on Jestha 22, 2076, since the issue wasn't fully subscribed, the issue will be extended up to Asadh 16, 2076.

This fund will be 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 for fund sponsor NIB Bank and fund manager NIBL ACE Capital Limited as a seed capital.

As per the issue manager, the mutual fund scheme has collected Rs.87,528,800 from 11,707 applicants till 10 AM today. Exactly 70% of the issue has been subscribed.

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

NIBL Sahabhagita Fund is NIBL Ace Capital Limited’s 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.

NIBL Ace Capital Limited has already issued 2 mutual funds i.e. NIBL Sambriddhi Fund 1 which is a 7 years close ended fund with issue size of Rs 1 arba and NIBL Pragati Fund which is also a 7 year close ended fund with issue size of Rs 75 crore.