Out of the total offered units, 14% or minimum 140 million units have been allocated for the promoter Nabil Bank and 1% or minimum 1 million units have been allocated for the project manager Nabil Investment Bank. The remaining 85 million units mutual fund will be issued to the general public.
The issue will close early on November 30 and lately on December 9.Interested investors can apply for a minimum of 100 units and maximum 100 units.
This scheme is a closed-end scheme operated under Nabil Mutual Fund. The total size of the fund is Rs 1 billion. A minimum of 50 percent i.e. 50 million units should be sold in this issue. If applications are less than that, the scheme will be scrapped and the refund process will be started within 15 days. Its duration is 10 years.
Nabil Investment has been appointed as the issue manager. The applicants can apply from all ASBA approved BFIs and Meroshare.
Care Rating Nepal has assigned CARE NP AMC Quality 3 Plus rating to the scheme manager. This indicates that there is a sufficient basis for proper management of funds. Similarly, Care Ratings has assigned Care NP Single A Plus rating to the fund provider. This indicates that the company is sufficiently secure to meet its financial obligations on time.
