" NIC Asia Flexi Cap Fund " Allotted to Applicants; Total Fund Size Extended to Rs 102 Crores

NIC Asia Capital opened a new closed-end mutual fund scheme “NIC Asia Flexi Cap Fund” worth Rs 1 arba with a maturity of 7 years on 19th Jestha. This scheme was set to close on the 24th Jestha, 2079 at the earliest. The deadline would have been extended till 2 Ashadh if the application was not sufficiently subscribed. However, because there were more applicants for the purchase of units than there were demands, the fund was closed on 25 Jestha, 2079.

The issue of this fund is of 10 crore units worth Rs 1 Arba and the per-unit cost is Rs 10. Out of the total issue, 15% of the total units i.e. 1.50 crore units worth Rs. 15 crores have been allocated to the fund sponsor NIC Asia Bank Limited and to the fund manager Nic Asia Capital Limited. While the remaining 8.50 crores units are allocated to the general public. Despite the fact that the fund's initial issuance size was intended to be 10 crore units, the fund has now been resized to 102% of its original size due to the oversubscription, making the total units of the fund to be 10.2 crore units.

A total of 8,65,48,270 units were received from 95,997 general applicants for the purchase during the issuing time periods. However, 9,950 Units received from 69 applicants were not properly observed owing to some defaults made by the applicants which were subjected to be void. Hence, a total of 95,929 applicants have been considered valid issuers of the fund as of 5:30 p.m on 31 Jestha, 2079 -Tuesday.

The majority of the funds raised are subjected to be invested in companies listed on the secondary securities market. Also, more than 136 percent of returns will be given to unit holders who invested in the fund.

As of now, NIC Asia Capital manages three close-ended mutual funds i.e: the NIC Asia Growth Fund (NICGF), NIC ASIA Balanced Fund (NICBF), and NIC Asia Select-30 (NICSF), and one open-ended fund: the NIC Asia Dynamic Debt Fund (NADDF).

NIC Asia Capital Limited has extended its gratitude to the Securities Board, journalists and media personnel, investors, well-wishers, and others for their support and encouragement of the company. The fund manager has assured everyone that it will continue to be active in providing high returns, risk management, and high-quality services in the days to come.