September 14, 2021 | Investopaper
Nabil Investment Banking Limited is currently issuing the units of its new scheme-‘Nabil Balance Fund III’. The fund manager is going to sell the units of the scheme in the public offering (IPO) from Bhadra 25, 2078 BS. Due to the over-subscription, the public issue will close on Bhadra 29, 2078 BS.
The company had received the approval from the regulatory body Securities Board Of Nepal (SEBON) on Shrawan 29, 2078 BS.
The fund manager Nabil Investment Banking had plans to sell 10 crore units of the scheme at a par value of Rs 10 per unit. Hence, the total issue size amounts to Rs 1 Arba. The scheme will be operated under ‘Nabil Mutual Fund’.
Nabil Bank is the promoter company of the Nabil Mutual Fund. Hence, the bank will purchase 14 percent or 1.4 crore units of the scheme as the seed capital. Likewise, the fund manager Nabil Investment Bank will invest 1 percent or 10 lakh units. The general public can apply for the remaining 8.5 crore units worth Rs 85 crores.
One can submit the application for a minimum of 100 units and a maximum of 1 crore units.
‘Nabil Balance Fund III’ is a closed ended mutual fund scheme. It will be listed and traded in Nepal Stock Exchange (NEPSE).
Investing in a mutual fund can be a good strategy for most investors as it offers decent returns at a low level of risk. Mutual funds are managed by professional experts and provide wide diversification.
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