Rs 60 crores ‘NMB Sulav Investment Fund-I’ open for public from today

ShareSansar, Sept 9:

The new mutual fund - ‘NMB Sulav Investment Fund-I’- is opened for the public for subscription from today. ‘NMB Sulav Investment Fund-I’ is promoted by the NMB Bank and operated by Bank’s subsidiary NMB Capital Limited.

NMB Capital has said that the IPO that will be closed on Ashoj 6 while it can be extended up to Ashoj 20.

The investors can collect and submit the form from 29 different collection counters of the NMB Bank across the country and NMB Capital office itself.

Likewise, investors from the districts where there is no any counters to collect the form can also apply through the post offices by enclosing the A/c payee draft issued on the name of NMB Capital Ltd.

NMB Sulav Investment Fund – I is a closed end fund with an initial corpus of Rs 60 crore, and may exceed up to Rs 75 crore. According to the NMB Capital’s notice, an investor can apply up to 100 units of the shares while 6,000,000 units is the maximum limit.

The mutual fund is being floated at the face value of Rs 10. The investors have to pay Rs 10 per unit while submitting the form.  NMB Sulav Investment Fund has received [ICRANP] AMC Quality 3 (AMCs), which is a very good credit rating.

Out of total 60,000,000 units, NMB Capital has allocated 9,000,000 units or 14 percent of the total sold units for the NMB Bank while 1 percent has been allocated for the NMB Capital.

Remaining 51,000,000 is for the public.

Stock analysts believe that the entry of mutual fund helps to stabilize the volatility of the stock market.

With NMB Sulav Investment Fund – , there are now four mutual funds in the market,  including two operated Siddharth Capital Limited (SIG-1 and SEOS), and one managed by Nabil Investment Banking Limited (NBF-1).