More than 14 thousand applicants apply for 7.55 Crore units of NIC Asia Balance Fund; allotment to take place tomorrow

NIC Asia Capital Limited had closed the issue for ‘NIC Asia Balance Fund’ worth Rs.1.25 Arba from Bhadra 8, 2076. The issue had opened since Shrawan 4, 2076. The allotment of the issue will take place tomorrow in the premises of NIC Asia Capital Limited.

This fund is managed by NIC Asia Capital Limited and sponsored by NIC Asia Bank limited and runs under NIC Asia mutual fund. The issue was of of 125,000,000 units worth Rs.10 per unit.

85% of the total issue i.e. 10.625 Crore units was open for general public and remaining 15% (1.875 Crore units) had been kept as seed capital for sponsor NIC Asia Bank Limited and NIC Asia Capital Limited.

As per the issue manager, the issue has received 14,340 applicants applying for a total of 7.55 Crore units worth Rs.75.50 Crore, till closing. However, this data has not been verified and includes invalid applicants as well.

Currently, NIC Asia Growth Fund (NICGF), managed by NIC Asia Capital is also in the market. The Net Assets Value (NAV) of NICGF stood at Rs.11.15 as of Jestha 2076.