Nabil Investment Banking To Close IPO Its Open-Ended Scheme ‘Nabil Flexi Cap Fund’ On Mangsir 7
November 23, 2022 | Investopaper
Nabil Investment Banking Limited is currently issuing the units of its open-ended scheme named “Nabil Flexi Cap Fund”. The fund manager is selling 7.5 crores units of the scheme from Karthik 23, 2079 BS. At a par value of Rs. 10, the total issue amounts to Rs. 75 crores.
The public issue will close on Mangsir 7, 2079 BS. Previously, the public offering was set to close on Karthik 27, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.
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Out of the total units, the promoter bank ‘Nabil Bank Limited’ will purchase 14 percent or 1.05 crore units of the scheme. Likewise, the fund manger, Nabil Investment Banking will buy 1 percent or 75 lakh units of the scheme. Out of the remaining 6,37,50,000 units, the fund manager is going to issue 5 crore units to the general public in the first phase.
One can apply for the minimum of 100 units and a maximum of 75 lakh units.
Securities Board of Nepal (SEBON) granted permission to the fund manager on Bhadra 27, 2079 BS for the issuance of units to the general public. Nabil Investment Banking had submitted the application to the board on Ashad 27, 2078 BS.
The open-ended scheme “Nabil Flexi Cap Fund” will operate under the fund “Nabil Mutual Fund”.
Previously, NIBL Ace Capital, NIC Asia Capital, NMB Capital, Laxmi Capital and Siddhartha Capital have already launched an open-ended scheme.
What is an Open-ended Mutual Fund Scheme?
An open-ended mutual fund can issue and redeem the shares at any time. Shares are bought and sold on demand at their NAV. Interested investors can purchase or sell the shares in the fund directly from the fund. There is no need to purchase from existing shareholders. Open-ended schemes will not be listed on the stock exchange.
The shares of an open-ended fund are priced daily based on their day to day Net Asset Value (NAV).
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