NMB Capital Limited has allotted the public issue of the "NMB Saral Bachat Fund - E." The issue opened on 17th Bhadra. Since the issue was already oversubscribed before the early closing date, it concluded on 21st Bhadra, 2078.
The "NMB Saral Bachat Fund - E" is an open-ended mutual fund, meaning it won't be traded in NEPSE. The fund has no maturity period, and the fund manager can add to the size of the mutual fund whenever needed.
The fund plans to initially have a size of 10 crore units of Rs 10 face value each. The public issue is only 40% of this figure. 14% of this public issue has been allocated for the fund promoter NMB Bank and 1% for NMB Capital. Thus, only 2.5 crore units were then open for the public issue in this initial phase.
According to the issue manager, the issue received 92,594 valid applications for a total of 57,423,290 units. 91,717 applicants applying from 100 units to 9,000 units have been allotted the quantity they applied for. Similarly, 877 applicants applying from 9,500 units to 3,000,000 units have been allotted 9,490 units. Among 877 applicants, the remaining 7,090 units were equally allotted (10 units each) to 709 applicants via lottery.