The company started issuing ‘NMB Saral Bachat Fund-E’ worth Rs 400 million from September 2. The mutual fund is an open-ended mutual fund.
The company is issuing 40 percent i.e. 40 million out of 100 million units of mutual fund units in the first phase.
Out of the total offered units, the company has secured 14 percent i.e. 14 million for NMB Bank, promoter and 1 percent i.e. 1 million units for NMB Capital, manager of the fund. The general public can apply for the remaining 25 million units of mutual fund.
The interested investors can apply for a minimum of 100 and a maximum of 4 million units of the mutual fund. They can apply from all ASBA approved BFIs and meroshare.
ICRA Rating has assigned A- rating to the issue indicating an adequate degree of safety.
