Public Issue of "NIC Asia Select-30 (Index Fund)" Now Open for Application

Thu, Jun 24, 2021 10:45 AM on IPO/FPO News, Mutual Fund, Latest,

NIC Asia Capital Limited has published an offer letter to issue the "NIC Asia Select-30 (Index Fund)." The issue will open today, i.e. 10th Ashar, and 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.

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.”

Click here to view the prospectus.

Click here to view the offer letter.