"NIC Asia Select-30 (Index Fund)" Subscribed 64%; Did You Apply Already?

NIC Asia Capital Limited has issued the "NIC Asia Select-30 (Index Fund)" from 10th Ashar. The issue will close on 14th Ashar, 2078. If not subscribed by the early closing date, the deadline can be extended till Ashar 24.

15% of the total 10 crores units issue will be allocated to the fund promoter NIC Asia Bank. The remaining 8.50 crore units have been open for the public issue. Given that each unit has a par value of Rs. 10, the fund is worth Rs. 1 Arba. Applicants apply for a minimum of 100 units to a maximum of 1 crore units.

According to the issue manager, 52,459 applicants have applied for a total of 5,42,45,880 units. This is the data as of 10: 50 am today. Thus, the issue has already been subscribed to nearly 64%.

The "NIC Asia Select-30 (Index Fund)" is a closed-end mutual fund with a maturity period of 7 years. ICRA Nepal has given it the AMC Quality3 (AMC3) rating which indicates “Adequate Assurance on Management Quality.” Similarly, CARE Nepal has given it the CARE-NP A(Is) rating signaling “Low Credit Risk.”