NIC Asia Capital closing public issue of NIC Asia Growth Fund worth Rs 1 arba; Chance for layman investor to enter in the stock market

NIC Asia Growth Fund is closing its public issue of 10 crore unit shares worth Rs 1 arba today (Falgun 13, 2074). The offer was open from Magh 2, 2074. The mutual fund has been issuing a total of 10 crore unit of ordinary shares worth Rs 1 arba at face value of Rs 10 per unit. Securities Board of Nepal (SEBON) had provided final nod to the public issue of NIC Asia Growth Fund on Poush 11, 2074. Interested people must apply for a minimum of 100 units of share and they can apply for up to 20,00,000 unit of shares. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country. NIC Asia Growth Fund is NIC Asia Capital’s first mutual fund scheme, and is a 7-years closed-end fund. The scheme will be managed by NIC Asia Capital Limited with NIC Asia Bank Limited (NICA) as the fund sponsor. Under the current regulation, 15% units i.e. 1.50 crore units are reserved for NIC Asia Bank and NIC Asia Capital. Remaining 8.50 crore units will be floated to the public. NIC Asia Capital Limited is a 100% subsidiary of NIC Asia Bank licensed by SEBON to provide merchant banking, issue management and fund management services. Currently, there are 12 mutual fund schemes in the market, out of which 11 are also listed in Nepal Stock Exchange. NIC Asia Growth Fund is the third mutual fund scheme after Siddhartha Equity Fund and Sanima Equity Fund to get approval for public issue in the ongoing FY 2074/75. Offer Letter: Also See: Know why upcoming NIC Asia and Citizens Mutual Fund schemes are better than parking your money into Fixed Deposit accounts See the list of ASBA member BFIs