‘Nabil Equity Fund’ mutual fund scheme allotment concludes; Small & Big Investors allotted 48.28%& 11.27% respectively; No lottery

Nabil Equity Fund has concluded its public issue allotment today at Nabil Investment Banking , Narayanchaur, Naksal,  Kathmandu at 7:00 PM. Nabil Equity Fund had floated its public issue of 10 crore unit worth Rs 1 arba from Ashwin 2, 2073 till Ashwin 6, 2073. Investors who applied for up to Rs. 50 thousand or 5000 units (small investors) were allotted 48.28 percent of the shares applied whereas investors who applied for more than Rs. 50 thousand (big investors) got 11.27 percent of the applied shares on pro-rata basis. Nabil Equity Fund is a 7 years closed-end mutual fund scheme. The mutual fund scheme is managed by Nabil Investment Banking Limited, a wholly owned subsidiary of Nabil Bank. Of the total 106,250,000 units shares set aside for general public, 40% or 42,500,000 units shares, were put aside for retail investors and 60% or 63,750,000 unit shares, under “other investor” category. Retail investors applied for a total of 88,029,880 unit shares and those in the others category demanded 565,898,490 units shares. The shares set aside for retail investors were oversubscribed by 2.07 times and those set aside under other category were oversubscribed by 8.87 times. Of the total 43,291 applicant’s 38 were invalid applicants and 2 were seed capital (14% of Nabil Bank and 1% of Nabil Investment Banking). The issue manager for the public issue is Nabil Investment Banking Limited. Interested people were required to apply for a minimum of 100 units of share and they can apply for up to 1 crore unit of shares. Since the issue was over-subscribed, now the Nabil Equity Fund size is converted to Rs 1.25 arba. Of the total units of share floated 15% had 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. 1.75 crore unit shares and 1% for the Nabil Investment Banking  Limited i.e. 12.5 lakhs  unit  shares and remaining 10 crore 62.5 lakhs units for general public.