NIC ASIA Capital started issuing the new mutual fund named from September 23.
The company is issuing 80 million units at a face value of Rs 10 per unit. Out of the total number of units, 15% or 12 million units will be reserved to the fund promoter NIC Asia Bank and the remaining 68 million units will be issued to the general public.
The interested investors can apply for a minimum of 100 units and a maximum of 10 million units.
The allotment of units will be done if the company obtains application of at least 50 percent i.e. 40 million units. If the minimum number of units is not sold, the scheme will be cancelled and the company will refund to the applicants within 15 days.
The company has appointed NIC ASIA Capital as the issue manager. The interested investors can apply from all C-ASBA approved BFIs and Meroshare.
