Nabil Equity Fund to refund excess public issue money from Kartik 24; applicants mentioning a/c of Nabil Bank to get refund directly in their a/c

Nabil Equity Fund, a mutual fund scheme will be refunding excess money collected from investors of the public issue from Kartik 24, 2073. It had floated its public issue of 10 crore unit worth Rs 1 arba from Ashwin 2, 2073 till Ashwin 6, 2073. The non-allotted investors have to visit their respective collection centers with receipt to collect their refund money through account payee cheque. Letter of authorization along with photocopy of identity card of authorized person must be presented if the investors cannot collect their money themselves. As per the official of Nabil Investment Banking Limited, “We will refund the excess money through account payee cheque. Those investors who have provided account number of Nabil Bank will get direct refund amount in their respective account.” ‘Due to the long festival holidays we could not contact Banks and Financial Institutions (BFIs) for direct transfer of the refund money,’ added the official. 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. 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. 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. Since the issue was over-subscribed, now the Nabil Equity Fund size is converted to Rs 1.25 arba.