Rastriya Banijya Bank Limited is closing the ongoing issue of 10 crore units "RBB Mutual Fund 1" from today (Ashad 27, 2078). This issue is already oversubscribed and the interested applicants can apply till the banking hour today.
13% of the total 10 crore units are allocated for the fund promoter Rastriya Banijya Bank and 2% for fund manager RBB Merchant Bank Ltd. The remaining 8.5 crore units will be subscribed via the public issue.
"RBB Mutual Fund 1" is a closed-end fund, meaning it can be traded in the secondary market. The fund has a maturity period of 7 years. Each unit has a par value of Rs. 10.
The application can be submitted for a minimum of 100 units to a maximum of 1 crore units.
The mutual fund will be managed by Dr. Dilli Raj Sharma, C.A. Prakash Jung Thapa, Dr. Khomraj Kharel, Mr. Durga Raj Regmi, Mr. Sanu Raj Pokharel, as the fund supervisors. The fund manager will classify companies based on their fundamentals and technical status. The investment decision is then made on the company grading policy developed by the fund manager. The fund manager has stated that the investment shortlist will be prepared based on the companies' financial health, company management. business nature, and corporate governance.
RBB Merchant Bank Ltd. itself is the issue manager. The regulatory board SEBON approved the proposal on Ashad 10.