Nabil Equity Fund public issue amassed Rs 1.25 arba from 9,000 applicants till second day; oversubscribed by 1.25 times

Nabil Equity Fund has been floating its public issue of 10 crore unit shares worth Rs 1 arba from Ashwin 2, 2073. Today is the third day of the public issue. The issue has been oversubscribed by 1.25 times till second day. Nabil Equity Fund is basically a 7 years closed-end mutual fund scheme. The mutual fund scheme will be managed by Nabil Investment Banking Limited, a wholly owned subsidiary of Nabil Bank. As per the official of Nabil Investment Banking Limited, “The total collection of the public issue has reached to Rs 1 arba 25 crore till second day. Around 9,000 application forms were received.” The offer will close on Ashwin 6, 2073 (tomorrow) at the earliest. The maximum closing date for the offer is Ashwin 16, 2073. Interested people must apply for a minimum of 100 units of share and they can apply for up to    1, 00, 00,000 unit of shares. The mutual fund company is issuing a total of 10 crore unit of ordinary shares worth Rs 1 arba at face value of Rs 10. Of the total units of share floated 15% has been 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. 1.40 crore unit shares and 1% for the Nabil Investment Banking  Limited i.e. 10 lakhs  unit  shares and remaining 8 crore 50 lakhs units for general public. The issue manager for the public issue is Nabil Investment Banking Limited. Nabil Bank has its first mutual fund scheme, Nabil Banlance Fund-1 (NBF-1), listed in NEPSE.  The current Net Asset Value of NBF-1-1 is at Rs 28.22 as on the report based on Shrawan end.