The company is issuing 50 million units of new mutual fund units worth Rs 500 million. Out of 100 million mutual fund units, the company has secured 15 percent i.e. 15 million units for scmeme manager NIC Asia Bank as seed investment. Out of remaining 85 million units, the company is issuing 50 million units to the general public.
Interested investors can apply for a minimum of 100 and maximum of 10 million units mutual fund units from August 14. The issue will close early on August 18 and lately on August 28.
If the issue goes undersubscribed by 50 percent by the end of deadline, the issue will be scrapped and the applicants will be refunded.
The scheme is managed by NIC Asia Capital. The applicants can apply from all C-ASBA approved BFIs and Meroshare.
Informetric Credit Rating Nepal has assigned BBB rating to the scheme promoter while ICRA Nepal has assigned 3+ rating to the scheme manager.
