NIBL Pragati Fund had floated public issue of 6 crore unit shares worth Rs 60 crore from Mangsir 16, 2073 till Mangsir 20, 2073. The public issue was oversubscribed by 6.52 times.
Mr. Badri Pyakurel, Merchant Banking head of NIBL Capital Markets Limited, “The final collection of the public issue has reached to Rs 3 arba 33 crore till last day. Around 22, 000 application forms were received. It is only tentative data. Final data may vary with final output.”
DaysTotal Collection Number of Application Forms
| First day |
8 crore 88 lakh |
2,200 |
| Second day |
23 crore 52 lakh |
2,700 |
| Third day |
51 crore 50 lakh |
6,800 |
| Fourth day |
2 arba 38 crore |
10,300 |
| Total |
3 arba 33 crore |
22,000 |
NIBL Pragati Fund is basically a 7 years closed-end mutual fund scheme. The mutual fund scheme will be managed by NIBL Capital, a wholly owned subsidiary of Nepal Investment Bank.
Interested people were required to apply for a minimum of 100 units of share and they can apply for up to 60, 00,000 units of shares.
The mutual fund company will be issuing a total 6 crore units of ordinary shares worth Rs 60 crore at face value of Rs 10. Of the total units of share floated 15% has been set aside for Nepal Investment Bank Limited and NIBL Capital Markets Limited. Of that 15 percent shares, the company has allocated 13.33% for Nepal Investment Bank Limited i.e. 80 lakh unit shares and 1.66% for the NIBL Capital Markets Limited i.e. 10 lakhs unit shares and remaining 5 crore 10 lakhs units for general public.
The issue manager for the public issue is NIBL Capital Markets Limited.
Nepal Investment Bank has its first mutual fund scheme, NIBL Samriddhi Fund-1 (NIBSF1) listed in NEPSE.
