Nabil Balance Fund II floating its public issue of 12 crore units from today; fund matures in 10 years

Nabil Balance Fund II, managed by Nabil Investment Banking Limited and sponsored by Nabil Bank Limited is floating its public issue of 12 crore units mutual fund scheme worth Rs 1.2 arba from today (Baisakh 5, 2076).

The early closing data of this mutual funds issue is on Baisakh 9, 2076 if the issue got over subscription or else this issue can be extended up to Jestha 3, 2076.

The mutual fund will be issuing a total of 12 crore unit of ordinary shares worth Rs 1.20 arba at face value of Rs 10 per unit. Securities Board of Nepal (SEBON) had provided final nod to the public issue on Chaitra 10, 2075.

Interested people must apply for a minimum of 100 units of share and they can apply for up to 1.2 crore units. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country.

Nabil Balance Fund II is the Nabil Investment Banking Limited third mutual fund scheme, and is a 10-years closed-end fund. The scheme will be managed by Nabil Investment Banking Limited with Nabil Bank Limited as the fund sponsor.

Under the current mutual fund regulation, 15% units i.e. 1.80 crore units are reserved for fund manager and fund sponsor. Remaining 10.20 crore units will be floated to the general public.

Nabil Investment Banking Limited is a subsidiary of Nabil Bank licensed by SEBON to provide merchant banking, issue management, corporate advisory and mutual fund services.

Nabil Investment Banking has already issued 2 mutual funds i.e. Nabil Balance Fund I (5 years) which is already matured and Nabil Equity Fund (7 years) ongoing.

Currently, there are 13 mutual fund schemes in the market and all are listed in Nepal Stock Exchange.