NIBL Capital all set to launch Rs 80 crore Mutual Fund scheme from Mangsir 17

ShareSansar, November 23:

Nepal Investment Bank’s subsidiary NIBL Capital Limited has said that its debut mutual fund- ‘NIBL Samriddhi Fund-I’- will be opened from Mangsir 17, 2071 to the public for subscription with maturity period of 7 years.

Publishing the offer letter today, NIBL Capital has said that the IPO that will be closed on Mangsir 21 while it can be extended up to Poush 9.

NIBL Samriddhi Fund-I is a closed end fund with an initial corpus of Rs 80 crore, and may exceed up to Rs 1 arba.

According to the offer letter, an investor can apply up to 100 units of the shares while 8,000,000 units is the maximum limit.

It had received Fund Management Quality Rating of AMC Quality 3 from ICRA Nepal back in June, and had been only waiting for the final approval from the Sebon.

Out of total 80,000,000 units, NIBL has allocated 12,000,000 units or 15 percent of the total sold units for the Nepal Investment Bank and NIBL Capital.

Remaining 68,000,000 will be allocated to the public.

The investors have to pay Rs 10 per unit while submitting the form.

Stock analysts believe that the entry of mutual fund helps to stabilize the volatility of the stock market.

So far there are 4 mutual funds already in the market – two managed by Siddhartha Bank group, one by Nabil Bank group and one by NMB Bank group which is still to be listed on NEPSE for trading

Laxmi Capital is also vying to launch Laxmi Value Fund, which is a five-year closed-end balanced fund worth Rs 40 crore.

Global IME is also planning a scheme identical to Nabil Balanced Fund-1.

For complete Announcement(NIBL Samriddhi Fund-I): CLICK HERE